Metallic Minerals arranges additional financing

Executive Summary

• Metallic Minerals Corp. closed a non‑brokered private placement raising $720,120 from the issuance of 3,000,500 units at C$0.24 per unit.
• The company announced an additional flow‑through share offering of up to 4.8 million shares at C$0.27 per share, targeting gross proceeds of approximately C$1.3 million, expected to close around Aug. 27, 2025.
• Combined with the previously closed $6 M brokered LIFE offering, total anticipated gross proceeds exceed C$8 M, providing funding for La Plata (CO) and Canadian projects as well as working capital.

Key Details

• Non‑brokered private placement:
• Units issued: 3,000,500 (each unit = 1 common share + ½ warrant).
• Price per unit: C$0.24 → Gross proceeds of $720,120.

• Warrants: Right to purchase one common share at C$0.34, exercisable until Aug. 26, 2027; subject to a hold period of four months and one day from Aug. 26, 2025.

• Brokered LIFE offering (previously announced):

• Gross proceeds: $6 M (closed July 30, 2025).

• Flow‑through share offering:

• Maximum shares: up to 4.8 million common shares.
• Price per share: C$0.27 → Expected gross proceeds ≈ C$1.3 M.
• Hold period: four months and one day from issuance date.
• Closing target: on or about Aug. 27, 2025; subject to TSX‑V final acceptance.

• Finders’ fees may be payable on a portion of the offering.

• Aggregate financing outlook:

• Total expected gross proceeds (brokered + non‑brokered + flow‑through): > C$8 M since June 23, 2025 announcement.

• Potential additional financing if all warrants are exercised: up to C$4.8 M.

• Use of proceeds:

• Advance La Plata copper‑silver‑gold‑PGE project (Colorado, USA).
• Complete qualified Canadian flow‑through expenditures at Keno silver project and Klondike gold alluvial project (Yukon, Canada).

• Non‑flow‑through funds allocated to working capital and general corporate purposes.

• Related party participation:

• Directors/officers subscribed for 63,000 units of the non‑brokered offering and plan to subscribe for 222,000 flow‑through shares.

• Transactions qualify as related‑party under MI 61‑101; exemptions applied for valuation and minority approval requirements.

• Regulatory note:

• No material change report filed prior to closing dates because insider participation was not confirmed at the time and the company sought expedited closure.

Notable Quotes

(No direct quotes were provided in the release.)