Northwire Canada EditionSunday, September 13, 2026
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Financings Routine +

METALLIS CLOSES $1,174,550 IN FIRST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT

Metallis secured $2m financing to fund Idaho drilling as shares hit multi-month lows.

By The Northwire Desk — AI Analysis Jun 16, 2026 · 08:00 MTS · 0.14 Metallis Resources Inc.
Executive Summary
  • Metallis Resources Inc. closed the first tranche of its previously announced $2.0 million non-brokered private placement on June 16, 2026.
  • The company raised gross proceeds of $1,174,550 by issuing 7,830,333 units at $0.15 per unit.
  • Each unit consists of one common share and one-half of one non-transferable share purchase warrant.
  • The warrants are exercisable at $0.20 per share for a three-year period.
  • Proceeds are designated for exploration at the Greyhound Property in Idaho and general working capital.
  • Post-closing, the company has 100,822,836 common shares outstanding.
  • The closing is subject to final regulatory approvals and TSXV acceptance.
  • This follows the June 1, 2026 announcement of the full $2.0 million offering.
Material Impact
  • The news is a routine follow-up to the June 1, 2026 financing announcement. The market was already aware of the planned capital raise to fund the 2026 exploration program.
  • The tranche represents approximately 58.7% of the total $2.0 million offering, indicating steady execution of the capital raise.
  • The dilutive impact is moderate, adding ~7.8 million shares to the ~93 million outstanding post-March closing.
  • The use of proceeds directly supports the planned 3,000-meter drilling program at Greyhound, which is a key catalyst for the company.
  • The stock price has declined significantly from its December 2025 high of $0.55 to the current $0.14, reflecting broader market sentiment and the dilutive nature of frequent financings. The closing itself is not a market-moving event but confirms the company's ability to access capital markets to continue operations.
MTS · Price
Company Overview
  • Metallis Resources Inc. is a pre-revenue mineral exploration company focused on the Kirkham Property in British Columbia's Golden Triangle and the Greyhound Property in Idaho.
  • Flagship Project: Greyhound Property (673 hectares in Custer County, Idaho). It hosts polymetallic quartz-sulphide vein mineralization within a 3.5 km shear zone, containing gold, silver, antimony, lead, and zinc.
  • The property is located in the historic Stibnite mining district, with past production exceeding $6 billion.
  • 2025 maiden drilling program (1,605m across 11 holes) intersected high-grade silver-gold-antimony mineralization, particularly at the 1350 Zone and Bulldog target.
  • 2026 program plans to drill up to 3,000 meters, focusing on the Rufus Zone and expanding secondary targets.
  • Kirkham Property (106 km² in BC) is also under exploration, focusing on data compilation and target definition following a 2022 campaign.
Read the original news release →

More from Metallis Resources Inc.

Jul 16, 2026 · 08:00

Metallis advances Greyhound drilling as cash extends while dilution risk persists.

Drill Results Jul 08, 2026 · 08:00

Metallis expands its Idaho exploration program at the Greyhound project, initiating a new field season to advance its mineral resource targets.

Drill Results Jul 01, 2026 · 07:34

Metallis upsizes its first tranche of Greyhound financing to $1.2m as exploration momentum builds at the project.

Financings Jun 01, 2026 · 08:00

Metallis Resources Priced at a Discount to Fund Idaho Drilling, Adding to a Heavy Dilution Overhang as Exploration Execution Begins

Drill Results May 06, 2026 · 08:00

Metallis Refines Greyhound Targeting Model Amidst Consolidation

Drill Results Mar 13, 2026 · 08:00

CLARIFICATION OF PRIVATE PLACEMENT CLOSING ANNOUNCED MARCH 10, 2026

Financings