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Metallis Closes First Tranche and Increases Size of Non-Brokered Private Placement
Metallis Closes First Tranche and Increases Size of Non-Brokered Private Placement ...
About this update from Metallis Resources Inc.
[{"type":"text","content":"Metallis-PrivPlacemen\n \n \n \n Metallis Closes First Tranche and Increases Size 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 VANCOUVER, BC, Oct. 7, 2020\n \n \n \n \n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Oct. 7, 2020\n \n /CNW/ -\n \n Metallis Resources Inc.\n \n (TSXV: MTS) (OTCQB: MTLFF) (FSE: 0CVM) (the \"Company\" or \"Metallis\") today announces the closing of the first tranche (\"First Tranche\") of its non-brokered private placement (the \"Financing\") which was initially announced on\n \n September 28, 2020\n \n , raising\n \n $2,994,350\n \n . The Company has received conditional approval of the Financing from the TSX-V. The Company also announces that due to investor demand, it has now increased the size of the Financing from\n \n $3 million\n \n to\n \n $3.5 million\n \n by adding an additional 300,000 non-flow through units at\n \n $0.40\n \n per unit and 850,000 flow-through units at\n \n $0.45\n \n per unit.\n \n \n \n \n \n \n \n \n \n The Financing will now consist of up to 3,072,222 flow-through units at a price of\n \n $0.45\n \n per unit for proceeds of up to\n \n $1,382,500\n \n and up to 5,300,000 non-flow-through units at a price of\n \n $0.40\n \n per unit for proceeds of up to\n \n $2,120,000\n \n . The First Tranche closed 4,805,000 units at\n \n $0.40\n \n per unit for proceeds of\n \n $1,922,000\n \n , and 2,383,000 flow-through units at\n \n $0.45\n \n per unit for proceeds of\n \n $1,072,350\n \n .\n \n \n Each flow-through unit consists 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 consists 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 share...