Metallic Minerals raises $2M in private placement financing

Metallic Minerals Corp. (TSX-V: MMG) closed a non-brokered private placement financing for gross proceeds of $720,120, the company announced. The placement involved issuing 3,000,500 units at $0.24 per unit to strategic investors, management and directors.

Each unit consists of one common share and one-half warrant. The warrants allow holders to purchase common shares at $0.34 each until August 26, 2027. Securities issued are subject to a four-month hold period starting August 26, 2025.

The financing follows a previously announced $6 million brokered offering that closed July 30, 2025. Newmont Corporation exercised participation rights through subsidiary Newcrest International Pty Ltd. to maintain its shareholding proportion.

The company also announced a flow-through share offering of up to 4.8 million shares at $0.27 each, targeting approximately $1.3 million in gross proceeds. The flow-through offering requires TSX Venture Exchange approval and is expected to close around August 27, 2025.

Combined with previous offerings, Metallic Minerals expects to have raised more than $8 million in gross proceeds since June 23, 2025. If all warrants are exercised, an additional $4.8 million would be raised.

The company plans to use proceeds to advance its La Plata Copper-Silver-Gold-PGE project in Colorado and complete qualified expenditures at its Keno Silver and Klondike Gold Alluvial projects in Yukon, Canada. Remaining funds will support working capital and corporate purposes.

Directors and officers subscribed for 63,000 units in the private placement and are expected to purchase 222,000 flow-through shares. The related party transactions are exempt from formal valuation and minority shareholder approval requirements under securities regulations.

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