04:27 PM EDT, 10/07/2024 (MT Newswires) -- Metallis Resources ( MTLFF ) on Monday said it is raising up to $0.75 million in a private placement of share units.

The company said it will look to place up to 5.77-million units priced at $0.13 in the offering, with each unit made up of a share and a three-year warrant to buy a second share for $0.18.

Proceeds from the financing will be used for field exploration work at the company's Kirkham and Greyhound Properties and for general corporate purposes.

Metallis shares closed unchanged at $0.145 on the TSX Venture Exchange