en.Wedoany.com Reported - Metallis Resources Inc. (TSXV: MTS, OTCQB: MTLFF) announced that it has increased the first tranche closing of its non-brokered private placement from C$1,174,550 to C$1,203,950. The first tranche consists of 8,026,333 units at a price of C$0.15 per unit, for gross proceeds of C$1,203,950. Each unit comprises one common share and one-half of a non-transferable warrant, with each full warrant entitling the holder to purchase one additional common share at a price of C$0.20 per share for a period of three years.

The shares and warrants issued in this offering are subject to a hold period of four months and one day from the date of issuance. The first tranche closing is subject to receipt of all necessary regulatory approvals and final acceptance by the TSXV. Proceeds will be used for exploration of the Greyhound property and working capital. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, or state securities laws, and may not be offered or sold in the United States or to U.S. persons or for their accounts or benefit unless registered or exempt from such registration requirements. Fees paid to registered intermediaries include C$83,764 in cash and 558,426 full warrants exercisable at C$0.20 per share for three years.

Metallis Resources Inc. is a Vancouver-based company focused on exploring its wholly-owned Kirkham property, located in the Golden Triangle of northwestern British Columbia, Canada, and the Greyhound property, a gold, silver, and antimony property in Idaho, USA. Following the first tranche issuance, the company has a total of 101,018,836 issued and outstanding common shares.