Metallica Metals Corp. (CSE: MM, OTC: MTALF) has entered into an agreement to sell the MAX Molybdenum and Mill Project to Mega Moly Mining Corp. for $120,000 in cash and 150,000 common shares, representing a 15% stake in Mega Moly. This transaction allows Metallica to refocus on its gold and PGM properties in Canada. The MAX Project, an advanced molybdenum asset with rising demand, is expected to be advanced by Mega Moly's experienced team. Closing of the deal is anticipated by August 13, 2021.
Metallica Metals Corp. (CSE: MM, OTC: MTALF) has granted 2,400,000 stock options to its directors, officers, and consultants as part of its stock option plan. This includes 275,000 options issued to directors and officers, exercisable at $0.31 per share for five years. This strategic move aims to align the interests of management with those of shareholders, potentially enhancing company performance in the mining industry.