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Metallis Announces Non-brokered Private Placement
Metallis Announces Non-brokered Private Placement Canada NewsWire VANCOUVER...
About this update from Metallis Resources Inc.
[{"type":"text","content":"Metallis-PrivatePlace\n \n \n \n Metallis Announces Non-brokered Private Placement\n \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 \n Canada NewsWire\n \n \n VANCOUVER, BC, Sept. 28, 2020\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Sept. 28, 2020\n \n /CNW/ -\n \n Metallis Resources Inc.\n \n (TSXV: MTS); (OTCQB: MTLFF); (FSE: 0CVM) (the \"Company\" or \"Metallis\") announces a proposed non-brokered private placement (the \"Financing\") of up to\n \n $3 million\n \n . The Financing will consist of up to 2.22 million flow-through units at a price of\n \n $0.45\n \n per unit for proceeds of up to\n \n $1,000,000\n \n and 5 million non-flow-through units at a price of\n \n $0.40\n \n per unit for proceeds of up to\n \n $2,000,000\n \n . The flow-through proceeds from the Financing will be used only on qualifying exploration and the non-flow-through proceeds will be used for both exploration and general working capital.\n \n \n \n \n \n \n \n \n \n Each flow-through unit will consist of one flow-through 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\n \n $0.68\n \n per share for a 3-year period.\n \n \n Each 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\n \n $0.60\n \n per share for a 3-year-period.\n \n \n The flow-through shares will qualify as \"flow-through shares\" for the purpose of the Income Tax Act (\n \n Canada\n \n ) (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\n \n December 31, 2020\n \n , and as required under the Act.\n \n \n Shares and warrants issued on closing will be subject to a trading hold period expiring four months plus one day from the date of issue.\n \n \...