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09:46 AM EDT, 05/10/2021 (MT Newswires) -- Metallis Resources (MTS.V) rose 5.4% in early trade Monday as the company closed the final of its two-tranche non-brokered private placement, raising over C$3.7 million in total gross proceeds. The second tranche raised $399,000, comprising 753,334 non-flow-through units at $0.45 each and 120,000 flow-through units at $0.50 apiece, Metallis Resources said. Each flow-through unit consists of one flow-through common share and one-half of a non-flow-through share purchase warrant, which can be used to buy one additional common share for $0.70 within two years. Meanwhile, each non-flow-through unit consists of one common share and one-half of a non-flow-through warrant, which can be used to buy an additional common share for $0.65. Proceeds from the flow-through placement will be incurred as exploration expenses under Canadian income tax laws, while proceeds from the non-flow-through offering will be used for both exploration and general corporate purposes. Price: 0.49, Change: +0.03, Percent Change: +5.38 |