Metallis Resources increases financing to $1.25-million

Executive Summary

• Metallis Resources Inc. has upsized its previously announced non-brokered private placement to a total value of $1.25 million due to strong investor demand.
• The offering consists of two components: up to $750,000 in non-flow-through units and up to $500,000 in flow-through shares.
• The transaction is subject to regulatory approvals and final acceptance by the TSX Venture Exchange, with a trading hold period of four months plus one day.

Key Details

• Total Upsized Offering Size: $1.25 million.
• Non-Flow-Through Component:
  • Quantity: Up to 4,687,500 non-flow-through units.
  • Price: 16 cents per unit.
  • Gross Proceeds: Up to $750,000.
  • Structure: Each unit consists of one common share and one non-flow-through, non-transferable share purchase warrant.
  • Warrant Terms: Entitles holder to purchase one additional common share at 26 cents per share for a three-year period.
• Flow-Through Component:
  • Quantity: Up to 2.5 million flow-through shares.
  • Price: 20 cents per share.
  • Gross Proceeds: Up to $500,000.
  • Tax Status: Qualifies as flow-through shares under the Income Tax Act (Canada); proceeds incurred on Canadian exploration expenses.
  • Renunciation: Expenses renounced to purchasers with an effective date no later than Dec. 31, 2026.
• Trading Restrictions: Shares and warrants issued are subject to a trading hold period expiring four months plus one day from the date of issuance.
• Conditions Precedent: Closing is subject to receipt of all necessary regulatory approvals and final acceptance by the TSX Venture Exchange.