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METALLIS CLOSES $1,262,000 PRIVATE PLACEMENT AND APPOINTS NEW VP OF EXPLORATION
METALLIS CLOSES $1,262,000 PRIVATE PLACEMENT AND APPOINTS NEW VP OF EXPLORATION Canada Ne...
About this update from Metallis Resources Inc.
[{"type":"text","content":"\n\n\nMETALLIS CLOSES $1,262,000 PRIVATE PLACEMENT AND APPOINTS NEW VP OF EXPLORATION\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, March 10, 2026 /CNW/ - Metallis Resources Inc. (TSXV: MTS) (OTCQB: MTLFF) (FSE: 0CVM) (the \"Company\" or \"Metallis\") announces the closing of its non-brokered private placement (the \"Financing\") and appointment of new Vice-President of Exploration. Details announcing the Financing can be found in the Company's previous news releases dated February 24th and 25th, 2026. The Financing remains subject to final acceptance by the TSX Venture Exchange.\n\n\n\n\n\n\n\nTotal proceeds from the Financing are $1,262,000, resulting in the issuance of 4,762,500 non-flow-through units at a price of $0.16 per unit for proceeds of $762,000, and 2,500,000 flow-through common shares at a price of $0.20 per share for proceeds of $500,000. The Financing resulted in the issuance of a total of 7,262,500 shares.Each non-flow-through unit consists of one common share and one non-transferable share purchase warrant entitling the holder to purchase one additional common share at a price of $0.26 per share for a period of three years.The flow-through shares issued will qualify as \"flow-through shares\" for the purpose of the Income Tax Act (Canada) (the \"Act\"). All flow-through proceeds will be used to incur \"Canadian exploration expenses\" (within the meaning of the Act). The Company will renounce these expenses to the purchasers with the effective date of no later than December 31, 2026, in accordance with the requirements of the Act.Shares and warrants issued on closing are subject to a trading hold period expiring four months plus one day from the date of issuance.Finder fees of $37,280 along with 45,500 finder's warrants, also exercisable at a price of $0.26 per share for a period of three years, were paid to registered finders.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...