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Metallica Metals Announces $1.0 Million Private Placement
VANCOUVER, British Columbia, Dec. 08, 2021 (GLOBE NEWSWIRE) -- Metallica Metals Corp. (CSE: MM) (OTC: MTALF) (FWB: SY7P) (the “Company” or “Metallica Metals”) i
About this update from Quebec Rare Earth Elements Corp
[{"type":"text","content":" VANCOUVER, British Columbia, Dec. 08, 2021 (GLOBE NEWSWIRE) -- Metallica Metals Corp. (CSE: MM) (OTC: MTALF) (FWB: SY7P) (the “Company” or “Metallica Metals”) is pleased to announce a non-brokered private placement (the “Private Placement”) of flow-through units of the Company (the “FT Units”) at a price of $0.18 per FT Unit. Each FT Unit consists of one (1) flow-through common share of the Company (each a “FT Common Share”) and one transferable warrant (each a “Warrant”) that is exercisable to purchase one additional common share (each a “Common Share”) at a price of $0.25 for a period of two (2) years from closing. The Company will also be issuing non-flow-through units (the “Units”) at a price of $0.15 per Unit. Each Unit consists of one (1) Common Share of the Company and one transferable Warrant that is exercisable to purchase one additional Common Share at a price of $0.25 for a period of two (2) years from closing. The Company intends to raise up to $1,000,000 from the issuance of FT Units and Units. StephenAvenue Securities Inc. will be acting as bookrunner in connection with the Private Placement. The net proceeds from the Private Placement will be used for general ongoing working capital and corporate purposes. Proceeds received from the FT Units will be used for exploration and drilling on the Company’s Starr Gold-Silver Project (“Starr Project”). The Company has already completed 18 drill holes on the Starr Project and intends to continue drilling into early 2022 with at least one drilling rig. Recent assay results from the Starr drilling program were disclosed by the Company on November 25 and December 7, 2021. Finder’s fees of cash and Warrants on the same terms as noted above may be paid to qualified parties in connection with the Private Placement. All securities issued will be subject to a statutory four month and one day hold period from issuance. On behalf of the Board of Directors METALLICA METALS CORP.Paul Ténière, M.Sc., P.Geo.CEO and [email protected] Head Office:Suite 810 – 789 West Pender StreetVancouver, BC V6C 1H2 CanadaPh: (604) 687-2038 Toronto Office:Suite 401 – 217 Queen Street WestToronto, ON M5V 0R2 Canada StephenAvenue Securities Inc. Daniel CappuccittiVice PresidentCappuccitti/Comi Team217 Queen St. West, Suite 402, Toronto ON, M5V 0R2T. 416-479-4478 |C. 416-602-1290dcappuccitt...