Metallis Resources Withdraws Private Placement
TSX VENTURE: MTS
VANCOUVER, Sept. 28, 2018 /CNW/ - Metallis Resources Inc. (TSX-V: MTS; OTCQB: MTLFF) ("Metallis" or the "Company") announces that the Company will not be proceeding with the non-brokered private placement announced on September 21, 2018.
Fiore Aliperti, Metallis' President and CEO, commented: "Metallis remains in a strong position with working capital of $3.3 million as we enter Q4. We remain current with our payment obligations and have paid all drilling costs billed through mid-September, which sets up well for the 2019 exploration season. As drilling continues at Metallis' 100%-owned Kirkham Property, the Company looks forward to issuing another exploration update very shortly."
About the Kirkham Property
The 106 sq. km Kirkham Property is located about 65 km north of Stewart, B.C., in the heart of the Golden Triangle's prolific Eskay Camp. The northern border of Kirkham is contiguous to Garibaldi Resources' E&L Nickel Mountain Project. The northeast corner of Kirkham is within 12 km of the Eskay Creek mine while the eastern border is within 15 – 20 km of Seabridge Gold's KSM deposits and Pretium Resources' Brucejack mine.
Metallis Resources Inc. is a Vancouver-based company focused on the exploration of gold, copper, nickel and silver at its 100%-owned Kirkham Property situated in northwest British Columbia's Golden Triangle. Metallis trades under the symbol MTS on the TSX Venture Exchange and currently has 32,981,129 shares issued and outstanding.
2018 Venture 50
Metallis Resources Inc. was recently included in the 2018 Venture 50 (the "V50"). The V50 is a ranking of top performers on the TSX Venture Exchange last year. The ranking comprises 10 companies from each of five industry sectors selected based on three equally weighted criteria: Market capitalization growth, share price appreciation and trading volume amount. To view the V50 video click here.
On behalf of the Board of Directors:
/s/ "Fiore Aliperti"
Chief Executive Officer, President and Director
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