Metallic Minerals closes $1.3-million FT share offering

Executive Summary

• Metallic Minerals Corp. closed its final flow‑through share private placement, issuing 4.8 million shares at C$0.27 each for gross proceeds of approximately C$1.3 million.
• The proceeds are earmarked for eligible Canadian exploration expenses on the high‑grade Keno silver project and the Klondike gold alluvial royalty portfolio in Yukon.
• This financing completes a series of offerings that together raised about C$8 million, providing capital to advance the La Plata copper‑silver‑gold‑PGE project and other strategic assets.

Key Details

• Offering size: 4.8 million flow‑through common shares.
• Price per share: C$0.27 (flow‑through basis).
• Gross proceeds: Approximately C$1.3 million.
• Total financing to date: Combined with prior brokered and non‑brokered offerings on July 30, 2025 and Aug. 25, 2025, total gross proceeds equal roughly C$8 million.
• Use of proceeds: Eligible Canadian exploration expenses under the Income Tax Act for:
• High‑grade Keno silver project (adjacent to Hecla Mining’s Keno Hill operations).
• Klondike gold alluvial royalty portfolio in Yukon.
• Holding period: Flow‑through shares subject to a four‑month + one‑day holding period from issuance.
• Finders’ fees: $48,000 payable to Cormark Securities Inc. and Canaccord Genuity Corp. for a portion of the offering.
• Regulatory condition: Offering remains subject to final acceptance by the TSX Venture Exchange.
• Management commentary: CEO Greg Johnson highlighted strong shareholder participation, strategic investor involvement (including Newmont Corp.), and the financing’s role in advancing La Plata and Keno projects amid favorable metal price environment.

Notable Quotes

“We are excited to have completed these financings totalling $8‑million with strong participation from our existing shareholders and strategic investors… This funding provides the capital to advance our cornerstone La Plata copper‑silver‑gold‑PGE project and Keno silver project at a time of strengthening fundamentals…” – Greg Johnson, Chairman & CEO

Materiality Assessment: Non‑Material – Positive (the financing is modest in size relative to typical market expectations but positively supports ongoing exploration activities).