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METALLIS ANNOUNCES $1,100,000 NON-BROKERED PRIVATE PLACEMENT
METALLIS ANNOUNCES $1,100,000 NON-BROKERED PRIVATE PLACEMENT Canada NewsWire VANCO...
About this update from Metallis Resources Inc.
[{"type":"text","content":"\n\n\nMETALLIS ANNOUNCES $1,100,000 NON-BROKERED PRIVATE PLACEMENT\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nCanada NewsWire\n\n\nVANCOUVER, BC, Feb. 24, 2026 /CNW/ - Metallis Resources Inc. (TSXV: MTS) (OTCQB: MTLFF) (\"Metallis\" or the \"Company\") is pleased to announce a non-brokered private placement (the \"Financing\") of up to $1.1 million. The Financing will consist of up to 3.75 million non-flow-through units at a price of $0.16 per unit for proceeds of up to $600,000, and up to 2.5 million flow-through shares at a price of $0.20 per share for proceeds of up to $500,000.\n\n\n\n\n\n\n\nEach non-flow-through unit will consist of one common share and one non-flow-through, non-transferable share purchase warrant. Each warrant will entitle the holder to purchase one additional common share at a price of $0.26 per share for a 3-year period.The flow-through shares will qualify as \"flow-through shares\" for the purpose of the Income Tax Act (Canada) (the \"Act\"). The proceeds of the flow-through private placement will be incurred on \"Canadian exploration expenses\" (within the meaning of the Act). The Company will renounce these expenses to the purchasers with the effective date no later than December 31, 2026, and as required under the Act.Shares and warrants issued on closing will be subject to a trading hold period expiring four months plus one day from the date of issuance. Closing of the private placement is subject to receipt of all necessary regulatory approvals and final acceptance by the TSXV.Use of ProceedsThe proceeds from the flow-through shares will be used for qualifying expenditures at the Kirkham Property in northwest British Columbia. Proceeds from the non-flow-through units will be used to advance exploration activities at both the Company's Greyhound and Kirkham projects, as well as for general corporate purposes.Planned work at Kirkham for the 2026 field season will mark the Company's return to the property following its 2024 decision to prioritize the Greyhound Project in response to capital availability and broader market conditions. Con...