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Metallic Minerals Announces Warrant Extension

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Metallic Minerals (TSXV:MMG)(OTCQB:MMNGF) has applied for TSX Venture Exchange approval to extend the expiry dates of two sets of share purchase warrants. The first set comprises 4,800,000 warrants from June 8, 2022, originally expiring December 8, 2024, to be extended to June 8, 2025. The second set includes 735,500 warrants from June 30, 2022, originally expiring December 30, 2024, to be extended to June 30, 2025. Both warrant sets are exercisable at $0.50 per warrant. All other warrant terms remain unchanged.

Metallic Minerals (TSXV:MMG)(OTCQB:MMNGF) ha richiesto l'approvazione del TSX Venture Exchange per estendere le date di scadenza di due serie di warrant per l'acquisto di azioni. La prima serie comprende 4.800.000 warrant che passano dalla scadenza originaria dell'8 dicembre 2024 all'8 giugno 2025. La seconda serie include 735.500 warrant che, originariamente in scadenza il 30 dicembre 2024, saranno estesi al 30 giugno 2025. Entrambe le serie di warrant sono esercitabili a $0.50 ciascuno. Tutti gli altri termini dei warrant rimangono invariati.

Metallic Minerals (TSXV:MMG)(OTCQB:MMNGF) ha solicitado la aprobación de la Bolsa de Valores de TSX Venture para extender las fechas de vencimiento de dos series de warrants de compra de acciones. La primera serie comprende 4,800,000 warrants cuya fecha de vencimiento original era el 8 de diciembre de 2024, y se extenderá hasta el 8 de junio de 2025. La segunda serie incluye 735,500 warrants cuyo vencimiento original era el 30 de diciembre de 2024 y se prolongará hasta el 30 de junio de 2025. Ambas series de warrants son ejercitables a $0.50 por warrant. Todos los demás términos de los warrants permanecen sin cambios.

메탈릭 미네랄즈 (TSXV:MMG)(OTCQB:MMNGF)는 두 세트의 주식 매입 워런트 만료일 연장을 위해 TSX 벤처 거래소의 승인을 요청했습니다. 첫 번째 세트는 4,800,000개의 워런트로, 원래 2024년 12월 8일 만료에서 2025년 6월 8일로 연장됩니다. 두 번째 세트는 735,500개의 워런트로, 원래 2024년 12월 30일 만료에서 2025년 6월 30일로 연장됩니다. 두 세트의 워런트는 각각 $0.50에 행사할 수 있습니다. 기타 워런트 조건은 변경되지 않습니다.

Metallic Minerals (TSXV:MMG)(OTCQB:MMNGF) a demandé l'approbation de la Bourse de Toronto (TSX Venture) pour prolonger les dates d'expiration de deux séries de bons de souscription d'actions. La première série comprend 4.800.000 bons qui, initialement, devaient expirer le 8 décembre 2024, seront prolongés jusqu'au 8 juin 2025. La deuxième série inclut 735.500 bons qui, avec une échéance initialement prévue pour le 30 décembre 2024, seront prolongés jusqu'au 30 juin 2025. Les deux séries de bons sont exerçables au prix de $0.50 par bon. Tous les autres termes des bons restent inchangés.

Metallic Minerals (TSXV:MMG)(OTCQB:MMNGF) hat die Genehmigung der TSX Venture Exchange beantragt, um die Ablaufdaten von zwei Serien von Aktienkauf-warrants zu verlängern. Die erste Serie umfasst 4.800.000 Warrants, die ursprünglich am 8. Dezember 2024 ablaufen und nun bis zum 8. Juni 2025 verlängert werden sollen. Die zweite Serie umfasst 735.500 Warrants, die ursprünglich am 30. Dezember 2024 ablaufen und nun bis zum 30. Juni 2025 verlängert werden. Beide Serien von Warrants sind zu $0.50 pro Warrant ausübbar. Alle anderen Bedingungen der Warrants bleiben unverändert.

Positive
  • None.
Negative
  • Extension of warrant expiry dates may indicate challenges in raising capital through warrant exercises at current market conditions
  • Potential dilution risk for existing shareholders if warrants are exercised

VANCOUVER, BC / ACCESSWIRE / November 28, 2024 / Metallic Minerals Corp. (TSXV:MMG)(OTCQB:MMNGF) ("Metallic Minerals" or the "Company") announces that the Company has applied for TSX Venture Exchange approval to extend the expiry date on certain share purchase warrants (the "Warrants").

Per the application, 4,800,000 Warrants that were originally issued as part of a private placement transaction on June 8, 2022 (see June 9, 2022 news release) exercisable at $0.50 per warrant and expiring December 8, 2024 will now be extended to an expiry date of June 8, 2025.

In addition, the Company proposes to extend the expiry date for 735,500 warrants issued pursuant to a private placement transaction on June 30, 2022 (see June 17, 2022 news release) exercisable at $0.50 per warrant and expiring on December 30, 2024 will now be extended to June 30, 2025.

All other terms and conditions of the Warrants remain unchanged.

About Metallic Minerals
Metallic Minerals Corp. is a resource-stage mineral exploration company, focused on copper, silver, gold, and platinum group elements in top North American jurisdictions. Our objective is to create shareholder value through a systematic, entrepreneurial approach to making exploration discoveries, growing resources, and advancing projects toward development.

At the Company's La Plata project in southwestern Colorado, the expanded NI 43-101 mineral resource estimate highlights a significant porphyry copper-silver resource containing 1.2 Blbs copper and 17.6 Moz of silver1, with numerous additional targets showing potential for a district-scale porphyry system. The Company announced a 9.5% strategic investment focused on La Plata by Newmont Corporation in May 2023 with two subsequent top up investments in 2024. The U.S. Geological Survey has identified the La Plata mining district as a critical minerals resource area under the Earth Mapping Resources Initiative program and has completed significant geologic and geophysical studies to enhance understanding of the critical mineral potential in the district. The La Plata project is located between the communities of Mancos and Durango, Colorado, north of Highway 160.

In Canada's Yukon Territory, Metallic Minerals has the second-largest land position in the historic high-grade Keno Hill silver district, directly adjacent to Hecla's operations, with more than 300 Moz of high-grade silver in past production and current M&I resources. The inaugural Resource Estimate at the Company's Keno Silver project added 18.2 Moz silver equivalent2 to the Company's total resources in 2024. Hecla is the largest primary silver producer in the USA and soon to be Canada's largest with full production at its Keno Hill operations in 2024.

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, US Tribal/Native Corporations, and local communities to support successful project development.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Website: www.mmgsilver.com, Phone: 604-629-7800
Email: cackerman@mmgsilver.com, Toll Free: 1-888-570-4420

Footnotes

1.) As documented by www.juniormininghub.com; 2.) see news release dated July 23, 2023; 3.) see news release dated February 26, 2024

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, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, statements about expected results of operations, royalties, cash flows, financial position and future dividends 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. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, unsuccessful operations, 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, delays in receiving government approvals, 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.sedar.com.

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 accesswire.com

FAQ

What is the new expiry date for Metallic Minerals (MMNGF) warrants issued on June 8, 2022?

The warrants issued on June 8, 2022, will be extended to expire on June 8, 2025.

How many warrants of Metallic Minerals (MMNGF) are affected by the extension announced on November 28, 2024?

A total of 5,535,500 warrants are affected, comprising 4,800,000 warrants from June 8, 2022, and 735,500 warrants from June 30, 2022.

What is the exercise price of the extended warrants for Metallic Minerals (MMNGF)?

The exercise price remains unchanged at $0.50 per warrant.

METALLIC MINERALS CORP

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