Metallis Resources Inc
TSX VENTURE : MTS

June 08, 2016 13:14 ET

Metallis Resources Inc. Announces Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 8, 2016) - Metallis Resources Inc. (TSX VENTURE:MTS) (the "Company" or "Metallis Resources") announces a private placement consisting of up to 2,500,000 units at a price of $0.20 cents per unit for gross proceeds of up to $500,000. Unit consists of one (1) common share of the Issuer ("Share") and one (1) non-transferable share purchase warrant ("Warrant"). Each Warrant is exercisable for a period of two (2) years for the purchase of one (1) additional common share ("Warrant Share") at the price of $0.35 per Warrant Share or 30 days after the last of 10 consecutive days closing greater than or equal to $0.50. Any finder's and/or agent's fees will be paid in accordance with the policies of the TSX-V Exchange.

Proceeds from this private placement will be used for exploration on the Kirkham Property in the Golden Triangle situated in Northwestern British Columbia and for general working capital.

The private placement is subject to TSX-V approval.

On behalf of the Board of Directors:

Fiore Aliperti

Chief Executive Officer, President and Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX-V Stock Exchange has neither approved nor disapproved the contents of this news release.

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