Metallic Minerals Announces Additional $2 Million in Private Placement Financings

Rhea-AI Summary

Metallic Minerals (OTCQB:MMNGF) has announced multiple private placement financings totaling over $8.0 million. The company has closed a non-brokered private placement of $720,120 at $0.24 per Unit, and announced a flow-through share offering of up to $1.3 million at $0.27 per Flow-Through Share.

These offerings follow the previously closed $6 million brokered LIFE Offering. Each Unit includes one common share and a half-warrant exercisable at $0.34 until August 2027. If all Warrants are exercised, the company could receive an additional $4.8 million. Newmont Corporation maintained its pro rata shareholding through its subsidiary.

Proceeds will fund advancement of the La Plata Copper-Silver-Gold-PGE project in Colorado and Canadian flow-through expenditures at the Keno Silver and Klondike Gold Alluvial projects in Yukon.

Positive

• None.

Negative

• Significant dilution through multiple share issuances
• Four-month hold period restrictions on new securities
• Warrants could create future selling pressure if exercised

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BC / ACCESS Newswire / August 25, 2025 / Metallic Minerals Corp. (TSX-V:MMG)(OTCQB:MMNGF)(FSE:9MM1) (the "Company" or "Metallic") is pleased to announce that it has closed its non-brokered private placement financing (the "Non-Brokered Offering") with its strategic investors, as well as management and directors, for total gross proceeds of $720,120. Under the Non-Brokered Offering, 3,000,500 units of the Company (each, a "Unit") were issued at a price of $0.24 per Unit. Each Unit consists of one common share of the Company (each, a "Common Share") and one-half of one common share purchase warrant of the Company (each whole warrant, a "Warrant"). Each Warrant entitles the holder to purchase one Common Share at a price of $0.34 at any time on or before August 26, 2027. All securities issued pursuant to the Non-Brokered Offering are subject to a hold period of four months and one day from August 26, 2025, in accordance with applicable securities laws and the policies of the TSX Venture Exchange (the "TSX-V").

The Non-Brokered Offering follows the closing of the previously announced $6 million brokered LIFE Offering (the "LIFE Offering"), which closed on July 30, 2025. Newmont Corporation, through its wholly-owned subsidiary, Newcrest International Pty Ltd., exercised their participation rights pursuant to the investor rights agreement with the Company dated May 18, 2023, which allows them to maintain their pro rata shareholding in the Company.

In response to strong investor demand, the Company is also pleased to announce a flow-through share offering of up to 4,800,000 common shares (the "Flow-Through Shares") at a price of $0.27 per Flow-Through Share for gross proceeds of up to approximately $1.3 million (the "Flow-Through Offering"). The Flow-Through Shares will be subject to a hold period of four months and one day from the date of issuance. Finders' fees may be payable on a portion of the Flow-Through Offering. The Flow-Through Offering remains subject to the final acceptance of the TSX-V. The Flow-Through Offering is expected to close on or about August 27, 2025.

In aggregate, under the brokered LIFE Offering, the Non-Brokered Offering, and the Flow-Through Offering (together, the "Offerings") the Company expects to have raised gross proceeds of more than $8.0 million since the June 23, 2025 announcement of its brokered LIFE Offering led by Cormark Securities Inc., along with Canaccord Genuity Corp., SCP Resource Finance LP, and Beacon Securities Limited as agents. If the Warrants under the Offerings are exercised in full, it would provide the Company with an additional $4.8 million in funding.

The Company intends to use the net proceeds of the Offerings to advance its La Plata Copper-Silver-Gold-PGE and critical minerals project located in southwestern Colorado, USA, and to complete qualified Canadian "flow-through expenditures" as defined in the Income Tax Act of Canada, at its Keno Silver project and its Klondike Gold Alluvial project in Yukon, Canada. The Company will also use the non-flow-through proceeds for working capital and general corporate purposes.

Certain directors and officers of the Company subscribed for 63,000 Units of the Non-Brokered Offering and are expected to subscribe for 222,000 Flow-Through Shares. The participation by directors and officers under the Offerings constitute related party transactions pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the participation of the related parties in the private placements in reliance on the exemptions contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101, respectively. The Company did not file a material change report at least 21 days before the expected closing dates of the Offerings as the insider participation had not been confirmed at the time and the Company wished to close as expeditiously as possible.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended 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 any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.

About Metallic Minerals Corp.

Metallic Minerals Corp. is a resource-stage mineral exploration company, focused on copper, silver, gold, platinum group elements, and other critical minerals at the La Plata project in southwestern Colorado and the Keno Silver project adjacent to Hecla Mining's Keno Hill silver operations in the Yukon Territory. The Company is also one of the largest holders of alluvial gold claims in the Yukon and is building a production royalty business by partnering with experienced mining operators.

Metallic Minerals is led by a team with a track record of discovery and exploration success on several major precious and base metal deposits in North America, as well as having large-scale development, permitting and project financing expertise. The Metallic Minerals team is committed to responsible and sustainable resource development and has worked closely with Canadian First Nation groups, U.S. Tribal and Native Corporations, and local communities to support successful project development.

FOR FURTHER INFORMATION, PLEASE CONTACT:

www.metallic-minerals.com and info@metallic-minerals.com

Phone: 604-629-7800 and Toll Free: 1-888-570-4420

Forward-Looking Statements

This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, title, expected results of operations, 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. These assumptions include, inter-alia, the continued interest and strategic alignment of certain investors such as Newmont Corporation ('Newmont'); however, Newmont's participation in the Offering should not be construed as a commitment to future funding, operational involvement, or endorsement of the Company's long-term plans. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, 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, 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 www.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

FAQ

How much total funding is Metallic Minerals (MMNGF) raising in its latest financings?

Metallic Minerals is raising over $8.0 million through multiple offerings, including a $6 million LIFE Offering, $720,120 non-brokered offering, and up to $1.3 million flow-through offering.

What is the price per unit for MMNGF's non-brokered private placement?

The non-brokered private placement price is $0.24 per Unit, with each Unit consisting of one common share and one-half warrant exercisable at $0.34 until August 26, 2027.

How will Metallic Minerals use the proceeds from these offerings?

The proceeds will be used to advance the La Plata Copper-Silver-Gold-PGE project in Colorado, fund Canadian flow-through expenditures at the Keno Silver and Klondike Gold Alluvial projects in Yukon, and for working capital.

What is Newmont Corporation's involvement in MMNGF's financing?

Newmont Corporation, through its subsidiary Newcrest International Pty Ltd., exercised its participation rights to maintain its pro rata shareholding in the company.

When do the new MMNGF securities become freely tradeable?

The securities are subject to a four-month and one-day hold period from their respective issuance dates, as per securities laws and TSX Venture Exchange policies.