(TheNewswire)
March 21, 2022 – TheNewswire - Vancouver, British Columbia: Metallum Resources Inc. (TSXV:MZN) is pleased to announce that it proposes to complete, subject to acceptance by the TSX Venture Exchange, a non-brokered private placement of upto 83,340,000 units at $0.06 per unit, to raise gross proceeds of$5,000,400. Each unit consists of one common share of the Companyand one warrant which will entitle the holder to purchase oneadditional common share at $0.14 for two years from closing.
Red Cloud Securities Inc. and CPS Capital Group Pty Ltdare acting as finders in the financing.
Funds raised from the financing will be used forgeneral working capital, and to accelerate the development of theCompany’s Superior zinc and copper project, the highest grade zincproject in North America (see press release dated Oct 14,2021 ).
This news release does not constitute an offer tosell or a solicitation of an offer to buy the securities describedherein in the United States or in any other jurisdiction. Thesecurities referred to in this press release have not been and willnot be registered under the U.S. Securities Act and may not be offeredor sold without registration under the U.S. Securities Act and allapplicable state securities laws or compliance with the requirementsof an exemption from such registration.
About Metallum
Metallum Resources (TSXV:MZN) is developing itsSuperior Lake Zinc and Copper Project located in Ontario, Canada whichhas been advanced to the feasibility stage. For more information onthe project please visit metallumzinc.com .
Metallum is a member of the Gold Group of companies,led by Simon Ridgway. For further details about the Company and theSuperior Project, please visit the Company’s website at metallumzinc.com .
ON BEHALF OF THE BOARD
Kerem Usenmez,
President & Chief Executive Officer
Metallum Resources Inc.
Symbol: TSXV-MZN
For further information, contact:
Kerem Usenmez, President & CEO
Tel: 604-688-5288; Fax: 604-682-1514
Email: info@metallumzinc.com
Website: metallumzinc.com
Neither the TSX Venture Exchange northe Investment Industry Regulatory Organization of Canada acceptsresponsibility for the adequacy or accuracy of this release.
Cautionary NoteRegarding Forward-Looking Statements
Certain statements contained in thisnews release constitute forward-looking statements within the meaningof Canadian securities legislation. All statements included herein,other than statements of historical fact, are forward-lookingstatements and include, without limitation, statements about theproposed financing. Often, but not always, these forward lookingstatements can be identified by the use of words such as“estimate”, “estimates”, “estimated”, “potential”,“open”, “future”, “assumed”, “projected”, “used”,“detailed”, “has been”, “gain”, “upgraded”,“offset”, “limited”, “contained”, “reflecting”,“containing”, “remaining”, “to be”, “periodically”, orstatements that events, “could” or “should” occur or beachieved and similar expressions, including negative variations.
Forward-looking statements involveknown and unknown risks, uncertainties and other factors which maycause the actual results, performance or achievements of the Companyto be materially different from any results, performance orachievements expressed or implied by forward-looking statements. Suchuncertainties and factors include, among others, whether the financingwill be completed as planned; whether exploration and development ofthe Company’s properties will proceed as planned; changes in generaleconomic conditions and financial markets; the Company or any jointventure partner not having the financial ability to meet itsexploration and development goals; risks associated with the resultsof exploration and development activities, estimation of mineralresources and the geology, grade and continuity of mineral deposits;unanticipated costs and expenses; risks associated with COVID-19including adverse impacts on the world economy, exploration effortsand the availability of personnel; and such other risks detailed fromtime to time in the Company’s quarterly and annual filings withsecurities regulators and available under the Company’s profile onSEDAR at www.sedar.com. Although the Company has attempted to identifyimportant factors that could cause actual actions, events or resultsto differ materially from those described in forward-lookingstatements, there may be other factors that cause actions, events orresults to differ from those anticipated, estimated or intended.
Forward-looking statements containedherein are based on the assumptions, beliefs, expectations andopinions of management, including but not limited to: that thefinancing will be completed as planned; that the Company’s statedgoals and planned exploration and development activities will beachieved; that there will be no material adverse change affecting theCompany or its properties; and such other assumptions as set outherein. Forward-looking statements are made as of the date hereof andthe Company disclaims any obligation to update any forward-lookingstatements, whether as a result of new information, future events orresults or otherwise, except as required by law. There can be noassurance that forward-looking statements will prove to be accurate,as actual results and future events could differ materially from thoseanticipated in such statements. Accordingly, investors should notplace undue reliance on forward-looking statements.
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