Metallic Minerals completes $1.3 million flow-through share offering

Metallic Minerals Corp. (TSX.V:MMG)(OTCQB: MMNGF)(FSE:9MM1) closed its flow-through share offering of 4.8 million common shares at $0.27 per share, raising approximately $1.3 million in gross proceeds.

The flow-through offering follows previously completed brokered and non-brokered offerings on July 30 and August 25, bringing total gross proceeds from all recent financings to $8 million, according to the company's statement.

Proceeds from the flow-through offering will fund eligible Canadian Exploration Expenses at the company's Keno Silver project adjacent to Hecla Mining's Keno Hill Silver operations and its Klondike Gold Alluvial Royalty portfolio in Canada's Yukon Territory.

"We are excited to have completed these financings totaling $8 million with strong participation from our existing shareholders and strategic investors, including Newmont Corporation," said Greg Johnson, Chairman and CEO.

The flow-through shares are subject to a four-month and one-day holding period from the issuance date. Finders' fees of $48,000 were paid to Cormark Securities Inc. and Canaccord Genuity Corp. on a portion of the offering. The transaction requires final acceptance from the TSX Venture Exchange.

Metallic Minerals focuses on copper, silver, gold, and platinum group elements at its La Plata project in southwestern Colorado and the Keno Silver project in Yukon Territory. The company also holds alluvial gold claims in the Yukon and operates a production royalty business.

The flow-through shares have not been registered under U.S. Securities Act and may not be offered or sold in the United States absent registration or applicable exemptions.

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