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News Update


Eric Sprott Invests $1.95 Million in Canadian Explorer
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Sprott made the purchase through a private agreement.

Metallic Minerals Corp. (MMG:TSX.V; MMNGF:OTCMKTS) announced in a news release that Eric Sprott, through his corporation 2176423 Ontario Ltd., purchased 12,500,000 units of the Canadian precious metals explorer for $1.95 million. The price per unit was $0.156.

Each unit has one common share and one-half of a one common share purchase warrant of Metallic Minerals. With each whole warrant, the holder may purchase one common share of the gold-silver firm at $0.25 through Oct. 18, 2021.

Sprott now owns and controls about 12.6% of the outstanding common shares on a nondiluted basis, and around 17.8% on a partially diluted basis, assuming exercise of the warrants.

"Mr. Sprott has a long term view of the investment and may acquire additional securities of Metallic Minerals including on the open market or through private acquisitions or sell securities of Metallic Minerals including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors," the release noted.


1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Metallic Minerals. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Metallic Minerals. Please click here for more information.
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