METALLIS CLARIFIES PRIVATE PLACEMENT CLOSING

About this update from Metallis Resources Inc.

[{"type":"text","content":"\n \n \n \n METALLIS CLARIFIES PRIVATE PLACEMENT CLOSING\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 \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n July 29, 2022\n \n \n /CNW/ -\n \n Metallis Resources Inc.\n \n (TSXV: MTS) (OTCQB: MTLFF) (FSE: 0CVM) (the \"Company\" or \"Metallis\") reports a clarification of its\n \n June 29, 2022\n \n news release announcing the closing of its\n \n $1.7 million\n \n non-brokered private placement (the \"Financing\"). The Company did not specify the exemption relied upon by an insider who participated in the Financing for a total amount of\n \n $10,000\n \n .\n \n \n \n \n \n \n \n \n \n This participation of 50,000 units at\n \n $0.20\n \n per unit constitutes a \"related party transaction\" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). Such participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the units acquired by the insider nor the consideration for the units paid by such insider, exceed 25% of the Company's market capitalization.\n \n \n \n About Metallis\n \n \n \n Metallis Resources Inc. is a\n \n Vancouver\n \n -based company focused on the exploration of gold, copper, nickel, and silver at its 100%-owned Kirkham Property situated in northwest\n \n British Columbia's\n \n Golden Triangle. The Property is prospective for multiple mineral deposit types and is located along a strategic geological boundary – the \"Red-line\" exposed on the Western margin of the Eskay Rift system in the Golden Triangle,\n \n Northwestern British Columbia\n \n . The Property is contiguous to Garibaldi Resources Corp.'s E&L Nickel Mountain Project in the North and Eskay Mining Corp. to the East, is within 12 km of the Eskay Creek mine and 12 – 20 km west of Seabridge Gold's KSM deposits and Newcrest Mining's producing Brucejack mine.\n \n \n Metallis trades under the symbols MTS on the TSX Venture Exchange, MTLFF on the OTCQ...

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