Metallic Minerals Closes $4 Million Private Placement Financing

About this update from Metallic Minerals Corp.

[{"type":"text","content":"Metallic Minerals Closes $4 Million Private Placement FinancingVANCOUVER, BC / ACCESSWIRE / June 9, 2022 / Metallic Minerals (TSX.V:MMG)(OTCQB:MMNGF) (\"Metallic Minerals\", or the \"Company\") is pleased to report that it has closed its previously announced non-brokered private placement financing for aggregate proceeds of $4,032,000 through the issuance of 9,600,000 units at a price of $0.42 per flow-through unit (the \"Private Placement\"). Each Unit consists of one flow-through common share and one-half purchase warrant where each whole warrant is exercisable into a flow-through common share for 30 months at a price of $0.50 on the TSX Venture Exchange (\"TSX-V\").Greg Johnson, CEO and Chairman, noted, \"We are pleased to complete this premium-to-market Private Placement and to strengthen our shareholder base with new institutional investors. These new funds will be primarily directed toward the ongoing exploration and development of our Keno Silver Project in the high-grade, Keno silver district of Canada's Yukon Territory. Final planning is underway for the initiation of our 2022 exploration programs at Keno Silver, as well as at our La Plata silver-gold-copper project in Colorado, USA. We look forward to meeting with existing and potential shareholders during PDAC 2022 in Toronto June 13-15, as well as during the Yukon Property Tours and Conference June 20-24 in Dawson City.\"Proceeds from the Private Placement will be used toward eligible Canadian Exploration Expenses, within the meaning of the Income Tax Act (Canada). The Private Placement is subject to the final approval of the TSX-V. The flow-through shares will be subject to a hold period of four months and one day from their date of issuance under applicable Canadian securities law.The flow-through shares have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.An officer of the Company participated in the private placement for an aggregate of 4,400 FT Units. The participation by the insider in the private placement is considered to be a related-party transaction...

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