Metallic Minerals raises C$8 million in bought deal private placement

Metallic Minerals Corp. (TSXV: MMG) announced it entered into an agreement with Red Cloud Securities Inc. for a bought deal private placement to raise gross proceeds of C$8,000,230.

The Vancouver-based exploration company will issue 14,286,000 units at C$0.28 per unit for gross proceeds of C$4,000,080 and 10,390,000 flow-through units at C$0.385 per unit for gross proceeds of C$4,000,150.

Each unit consists of one common share and one-half of a warrant. Each flow-through unit includes one common share and one-half of a warrant, both qualifying as flow-through shares under Canadian tax law. The warrants allow holders to purchase common shares at C$0.40 per share for 36 months, beginning 61 days after closing.

The underwriters received an over-allotment option to purchase additional securities for up to C$2,000,000 in gross proceeds, exercisable up to 48 hours before closing.

Metallic Minerals plans to use proceeds from the unit sales for exploration at its La Plata Project in southwestern Colorado and general corporate purposes. Proceeds from flow-through unit sales will fund Canadian exploration expenses at the company's Keno Silver Project in Yukon Territory by December 31, 2027.

The offering is scheduled to close on June 22, 2026, subject to regulatory approvals including TSX Venture Exchange approval. The securities will be offered in Canada under the listed issuer financing exemption and in the United States through private placement exemptions.

Metallic Minerals develops copper, silver, gold and other mineral projects at La Plata in Colorado and Keno Silver in Yukon Territory. The company also holds alluvial gold claims in Yukon and operates a production royalty business.

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