NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC / ACCESS Newswire / June 22, 2026 / Metallic Minerals Corp. (TSXV:MMG)(OTCQB:MMNGF)(FSE:9MM1) ("Metallic" or the "Company") is pleased to announce the closing of its previously announced and upsized "bought deal" private placement (the "Offering") for aggregate gross proceeds of C$10,294,335.80, which includes the partial exercise of the underwriters' option. Pursuant to the Offering, the Company sold (i) 18,906,985 units of the Company (each, a "Unit") at a price of C$0.28 per Unit (the "Unit Price") for gross proceeds of C$5,293,955.80 from the sale of Units, and (ii) 12,988,000 flow-through units of the Company (each, a "Charity FT Unit", and collectively with the Units, the "Offered Securities") at a price of C$0.385 per Charity FT Unit for gross proceeds of C$5,000,380 from the sale of Charity FT Units. Red Cloud Securities Inc. ("Red Cloud") acted as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters that included ATB Capital Markets Corp. and Integrity Capital Group Inc. (collectively, the "Underwriters") in connection with the Offering.
Each Unit consists of (i) one common share of the Company (a "Unit Share") and (ii) one-half of one common share purchase warrant of the Company (each whole warrant, a "Unit Warrant"). Each Charity FT Unit consists of (i) one common share of the Company (each, a "Charity FT Unit Share") and (ii) one-half of one common share purchase warrant of the Company (each whole warrant, a "Charity FT Unit Warrant"). Each Charity FT Unit Share and each Charity FT Unit Warrant that comprises a Charity FT Unit qualifies as a "flow-through share" within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the "Income Tax Act"). Each whole Unit Warrant and Charity FT Unit Warrant entitles the holder to purchase one common share of the Company on a non-flow-through basis (each, a "Warrant Share") at a price of C$0.40 at any time from August 22, 2026 to June 22, 2029.
"We are very pleased with the strong investor demand that allowed us to upsize this financing," said Greg Johnson, Chairman and CEO of Metallic Minerals. "This reflects growing recognition of the quality of our copper, silver and critical minerals portfolio - underscored by the recent 23% expansion of our La Plata resource and the first quantification of platinum-group elements and other co-occurring critical minerals - as well as the increasing strategic importance of domestically and responsibly produced critical minerals."
"With this additional funding in place, we are positioned for an active year ahead as we advance discovery and resource-growth-focused exploration at our La Plata copper-silver-gold-PGE and critical minerals project in southwest Colorado and at our Keno Silver project in the central Yukon, and continue building out our Yukon gold royalty business. We remain committed to advancing this work safely and responsibly, in ongoing engagement with the local communities, Tribes and First Nations, who are essential partners in these projects."
The Company intends to use the net proceeds from the sale of Units for the exploration and advancement of the Company's La Plata Project in southwestern Colorado, as well as for general corporate purposes and working capital. The gross proceeds from the sale of Charity FT Units will be used by the Company to incur eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures" as such terms are defined in the Income Tax Act (the "Qualifying Expenditures") related to the Company's Keno Silver Project in the Yukon Territory on or before December 31, 2027. All Qualifying Expenditures will be renounced in favour of the subscribers of the Charity FT Units effective December 31, 2026.
In accordance with National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"), the Offered Securities were issued to Canadian purchasers pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. The securities issuable from the sale of Offered Securities to purchasers resident in Canada are immediately freely tradeable under applicable Canadian securities legislation.
As consideration for their services under the Offering, the Underwriters received aggregate cash fees (inclusive of the Underwriters' expenses) of C$666,672.66 and 1,747,627 non-transferable common share purchase warrants (the "Broker Warrants"). Each Broker Warrant is exercisable into one common share of the Company at the Unit Price at any time on or before June 22, 2029.
There is an amended and restated offering document (the "Amended Offering Document") dated June 3, 2026 related to the Offering that can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at www.metallic-minerals.com. The closing of the Offering remains subject to the final approval of the TSX Venture Exchange.
The securities being offered pursuant to the Offering have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Metallic Minerals
Metallic Minerals Corp. is a resource-stage exploration and development company advancing copper, silver, gold, platinum group elements, and other critical minerals at the La Plata project in southwestern Colorado, and high-grade silver, gold, lead and zinc exploration at the Keno Silver project in the Yukon Territory, adjacent to Hecla Mining's Keno Hill silver operations. The Company is also one of the largest holders of alluvial gold claims in the Yukon and is building a production royalty business through partnerships with experienced mining operators.
Metallic is led by a team with a strong track record of discovery and exploration success across multiple precious and base metal deposits in North America and is backed by strategic investment by Newmont Corporation and Eric Sprott. The Company integrates advanced data analytics into its exploration process to support target generation, accelerate discovery, and unlock value across its portfolio.
Metallic's project districts have a history of significant mineral production and benefit from existing infrastructure, including road access and nearby power. The Company's team has been recognized for environmental stewardship practices and is committed to responsible and sustainable resource development, engaging and collaborating with Canadian First Nations, U.S. Tribal and Native Corporations, and local communities to support long-term project advancement.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Website: metallic-minerals.com Phone: 604-629-7800
Email: info@metallic-minerals.com Toll Free: 1-888-570-4420
Forward-Looking Statements
This news release includes certain statements that may be deemed "forward-looking statements". Forward-looking statements included in this press release includes, but is not limited to, statements regarding the Offering, the intended use of proceeds of the Offering, the approval of the Offering by the TSX Venture Exchange, the quality of the Company's copper, silver and critical minerals portfolio and the anticipated strategic importance of critical minerals. All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting timelines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, statements about expected results of operations, royalties, cash flows, financial position and future dividends as well as financial position, prospects, and future plans and objectives of the Company are forward-looking statements that involve various risks and uncertainties. Although Metallic Minerals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. The Company notes that Newmont Corporation ("Newmont") is a shareholder; however, Newmont's participation in prior financings should not be construed as a commitment to future funding, operational involvement, or endorsement of the Company's plans. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, unsuccessful operations, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration, development of mines and mining operations is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Metallic Minerals and the risks and challenges of their businesses, investors should review their annual filings that are available at sedarplus.ca.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Metallic Minerals Corp.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/metals-and-mining/metallic-minerals-closes-upsized-c10.3-million-bought-deal-life-private-placement-1180182
