Metallis Resources Arranges $4 Million Financing

VANCOUVER, Sept. 21, 2018 /CNW/ – Metallis Resources Inc. (TSX-V: MTS) (the “Company” or “Metallis Resources”) is pleased to announce that it has arranged a non-brokered private placement to raise gross proceeds of up to $4,014,000. The financing is expected to close shortly.

Private Placement Details:

Up to 1,670,000 Non Flow-through Units will be issued at $1.20 per Unit and up to 1,340,000 Flow-through Units will be issued at $1.50 per Flow-through Unit.  Each Non Flow-through Unit will consist of one common share of the Company and one-half of one non-transferable share purchase warrant.  Each Flow-through Unit will consist of one flow-through common share of the Company and one-half of one non-transferable non flow-through share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share of the Company at a price of $1.65 per share for a period of 36 months following the closing of the financing.

A 6% finders’ fee will be paid in accordance with the policies of the TSX Venture Exchange to EMD Financial Inc. which is acting as the finder in this non-brokered private placement. The private placement is subject to Exchange approval.

Proceeds from the Flow-through Units will be used for further exploration, including drilling, at the company’s 100%-owned Kirkham Property situated in the heart of the Golden Triangle’s Eskay Camp in northwest British Columbia.  Proceeds from the Non Flow-through Units will be used for general working capital purposes.

Fiore Aliperti, Metallis President and CEO states: “We are working as far into the fall season as we can at the Kirkham Property, given the success of our summer exploration programs. This relatively low-dilutive financing builds on an already strong treasury and gives us maximum flexibility as we drill at Thunder North and other promising targets.”

About the Kirkham Property

The 106 sq. km Kirkham Property is located about 65 km north of Stewart, B.C., in the heart of the Golden Triangle’s prolific Eskay Camp.  The northern border of Kirkham is contiguous to Garibaldi Resources’ E&L Nickel Mountain Project.  The northeast corner of Kirkham is within 12 km of the Eskay Creek mine while the eastern border is within 15 – 20 km of Seabridge Gold’s KSM deposits and Pretium Resources’ Brucejack mine.

About Metallis

Metallis Resources Inc. is a Vancouver-based company focused on the exploration of gold, copper, nickel and silver at its 100%-owned Kirkham Property situated in northwest British Columbia’s Golden Triangle.  Metallis trades under the symbol MTS on the TSX Venture Exchange and currently has 32,981,129 shares issued and outstanding.

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