Northwire Canada EditionThursday, July 30, 2026
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Financings

Metallic Minerals closes $6-million private placement

By The Northwire Desk — AI Analysis Jul 30, 2025 · 20:01 MMG · 0.21 Metallic Minerals Corp.
MMG · Price

Executive Summary

  • Metallic Minerals Corp. completed a brokered private placement raising gross proceeds of $6,000,024 from the sale of 25,000,100 units at C$0.24 per unit.
  • Each unit includes one common share and half of a common‑share purchase warrant (exercise price C$0.34, exercisable through 30 July 2027).
  • Net proceeds will be used to advance the La Plata copper‑silver‑gold‑PGE project in Colorado, fund exploration at the Keno silver project in Yukon, and support working capital/general corporate purposes.

Key Details

  • Units sold: 25,000,100 units @ C$0.24 per unit → gross proceeds $6,000,024.
  • Unit composition: 1 common share + ½ common‑share purchase warrant (exercise price C$0.34, expiry 30 Jul 2027).
  • Overallotment option: Fully exercised, included in the total units sold.
  • Lead agent: Cormark Securities Inc.; other agents – Canaccord Genuity Corp., SCP Resource Finance LP, Beacon Securities Ltd.
  • Regulatory exemptions: Sold under NI 45‑106 (Canada), U.S. securities act exemptions, and applicable offshore exemptions.
  • Use of proceeds:
  • Advance La Plata Cu‑Ag‑Au‑PGE project (SW Colorado).
  • Exploration at Keno silver project (Yukon) and other Yukon properties.
  • Working capital and general corporate purposes.
  • Insider participation: Newmont Corp. (via Newcrest International Pty Ltd.) will exercise its pro‑rata rights; a subsequent non‑brokered private placement for management/insiders is expected.
  • Related party transactions: Insider and director participations qualify as related‑party under MI 61‑101; exemptions from formal valuation/minority approval were relied upon.
  • Hold period: Securities issued to insiders subject to a hold period of four months + one day from issue date.
  • Agent compensation: Cash fees of $247,530.23 plus issuance of 1,031,375 non‑transferable broker warrants (exercise price C$0.34).
  • Finder’s fees: Total $29,000 paid to designated finders.

Notable Quotes

(No executive quotes were included in the release.)

Read the original news release →

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Drill Results