Metallic Minerals Corp. announced a non-brokered private placement of 15,838,593 units at an issue price of CAD 0.40 per unit for the gross proceeds of CAD 6,335,437.2 on May 10, 2023. Each unit comprising one common share and 0.75 of a common share purchase warrant.

Each full warrant shall entitle to purchase one common share at an exercise price of CAD 0.55 per share for a period of three years following the closing date of the transaction. The private placement is expected to close, subject to customary conditions, upon acceptance by the TSX Venture Exchange. The common shares issued pursuant to the private placement will be subject to a four-month hold period from the date of issuance.