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METALLIS CLOSES $1.5 MILLION IN FIRST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT
METALLIS CLOSES $1.5 MILLION IN FIRST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT ...
About this update from Metallis Resources Inc.
[{"type":"text","content":"\n \n \n \n METALLIS CLOSES $1.5 MILLION IN FIRST TRANCHE OF 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 \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n June 14, 2022\n \n \n /CNW/ - Metallis Resources Inc. (TSXV: MTS) (OTCQB: MTLFF) (FSE: 0CVM) (the \"Company\" or \"Metallis\") announces the Company has closed the first tranche (the \"First Tranche\") of its previously announced non-brokered placement (the \"Financing\") of up to\n \n $2 million\n \n (See News Release dated\n \n June 7th, 2022\n \n ). The First Tranche has resulted in the issuance of 5,281,500 flow-through units for gross proceeds of\n \n $1,214,745\n \n and 1,327,500 non-flow-through units for gross proceeds of\n \n $265,500\n \n .\n \n \n \n \n \n \n \n \n \n Each Non-flow through unit consists of one common share and one-half of one non-transferable share purchase warrant with each full warrant exercisable at\n \n $0.30\n \n per share for three years. Each Flow-through unit consists of one flow-through common share and one-half of one non-flow-through non-transferable share purchase warrant with each full warrant exercisable at\n \n $0.33\n \n per share for three years. 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, 2022\n \n , and as required under the Act.\n \n \n The proceeds from the non-flow-through units will be used for both exploration and general corporate purposes.\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 issuance.\n \n \n Final closing of the Financing is subject to all necessary regulatory approvals, including the approval of the TSX Venture Exchange.\n \n \n \n About Metallis\n \...