MetalCorp announces $250K FT financing

News Release


THUNDER BAY, ONTARIO, CANADA (May 24, 2017) – MetalCorp Limited (“MetalCorp”) (TSXV – MTC) is pleased to announce a proposed non-brokered private placement of up to 5,000,000 flow-through shares (each, a “Flow-Through Share”) at a price of $0.05 per Flow-Through Share for aggregate gross proceeds of up to $250,000 (the “Offering”). Each Flow-Through Share will be a common share issued on a “flow-through” basis in accordance with the Income Tax Act (Canada). MetalCorp reserves the right to increase or decrease the size of the Offering or to terminate the Offering at any time without notice. MetalCorp may pay finder’s fees to eligible persons of up to 6% of the aggregate gross proceeds of the Offering in cash.

Proceeds from the sale of Flow-Through Shares will be used to fund MetalCorp’s mineral exploration expenses which qualify as “Canadian Exploration Expenses” (within the meaning of
the Income Tax Act (Canada)) on MetalCorp’s projects in Ontario, including its North Rock project and its Fearless project (namely, the eastern half of the Hemlo East gold project).

MetalCorp is a mineral exploration company based in Thunder Bay, Ontario, with gold and base metal projects in the Canadian Shield of Northern Ontario, Canada, one of the most prolific mineral districts in the world. To find out more about MetalCorp visit its website at

For further information, please contact: Donald A. Sheldon, Chief Executive Officer, Phone: (416) 777-4017, or Pierre Gagné, Director, Phone: (807) 626-3621, or via email:

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy, accuracy or contents of this news release.

SOURCE: MetalCorp Limited