Mr. Greg Johnson reports
METALLIC MINERALS ANNOUNCES WARRANT EXERCISES FOR GROSS PROCEEDS OF $1.75 MILLION
All of the remaining warrants from Metallic Minerals Corp.'s June 30, 2016, financing have been fully exercised for gross proceeds of $1,746,600. Directors, management and employees of the company exercised 100 per cent of their warrants, contributing $670,000 to the proceeds and thereby increasing their ownership in Metallic Minerals to a total of 17.5 per cent.
The proceeds from the exercise of these warrants will be directed to Metallic Minerals' 2019 exploration programs and used for general corporate purposes.
Greg Johnson, chairman and chief executive officer, commented: "We are very pleased to have the ongoing support from our shareholders with these warrant exercises and, particularly, with the strong support shown by our management and employees recognizing the value that we are building in the company. Our field teams are at work at the Keno silver project in the Yukon's high-grade Keno Hill silver district, along with at our other promising Yukon projects. We are excited about the second half of the year as we follow up on a number of important recent developments and value-creating initiatives. We look forward to providing additional updates and reporting results from our exploration activities in the coming weeks and months."
About Metallic Minerals Corp.
Metallic Minerals is a growth-stage exploration company focused on the acquisition and development of high-grade silver and gold in underexplored districts of mining-friendly jurisdictions proven to produce top-tier assets. The company's objective is to create value through a systematic, entrepreneurial approach to exploration. The company's core Keno silver project is located in the historic Keno Hill silver district of Canada's Yukon, with over 300 million ounces of high-grade silver in past production and current measured and indicated resources, as well as excellent existing infrastructure, including grid power, highway and road access.
We seek Safe Harbor.
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