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MetalCorp Limited (MTC.V)

TSXV - TSXV Real Time Price. Currency in CAD
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0.0600-0.0200 (-25.00%)
As of 3:01PM EST. Market open.
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Neutralpattern detected
Previous Close0.0800
Open0.0550
Bid0.0750 x 0
Ask0.0800 x 0
Day's Range0.0550 - 0.0850
52 Week Range0.0100 - 0.1100
Volume2,169,654
Avg. Volume153,771
Market Cap7.171M
Beta (5Y Monthly)4.82
PE Ratio (TTM)N/A
EPS (TTM)-0.0010
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • GlobeNewswire

    MetalCorp Announces Earn-In Agreement with Barrick Gold on MetalCorp’s Hemlo East Property

    THUNDER BAY, Ontario, Nov. 20, 2020 (GLOBE NEWSWIRE) -- MetalCorp Limited (“MetalCorp”) (TSXV – MTC) is pleased to announce that it has entered into an earn-in agreement (the “Earn-In Agreement”) with Barrick Gold Inc. (“Barrick”), a wholly-owned subsidiary of Barrick Gold Corporation, relating to MetalCorp’s Hemlo East gold property (the “Hemlo East Property”) located about 350 kilometers east of Thunder Bay, Ontario.   Barrick is currently operating the Williams and David Bell Gold Mines which are adjacent to the Hemlo East Property.  Over 21 million ounces of gold have been produced to date from the Hemlo gold deposits.  The Earn-In Agreement is subject to acceptance by the TSX Venture Exchange. “We are pleased to enter into this agreement with Barrick and look forward to our joint venture with them,” commented Donald Sheldon, the Chief Executive Officer of MetalCorp.  “Our shareholders recognize the value of the Hemlo East property and we have always believed in the potential it represents for creating value for their investment.  We believe that in Barrick we have secured the right joint venture party to move this project forward.”The Earn-In Agreement provides that Barrick has the right and option to earn an 80% interest in the Hemlo East Property upon satisfaction of the following conditions:(a)Barrick paying Cdn$3,000,000 (the “Initial Payment”) to MetalCorp on or before the third business day following TSX Venture Exchange acceptance of the Earn-In Agreement (the date of such payment being the “Initial Payment Date”);    (b)Barrick funding expenditures on the Hemlo East Property as follows: (A) at least Cdn$700,000 (the “Guaranteed Amount”) on or before the first anniversary of the Initial Payment Date; and (B) at least Cdn$4,500,000 (including the Guaranteed Amount) on or before the third anniversary of the Initial Payment Date; and    (c)Barrick delivering a National Instrument 43-101 technical report in respect of the Hemlo East Property on or before the third anniversary of the Initial Payment Date. During the earn-in period, Barrick will be the operator of the Hemlo East Property and will manage and execute all exploration programs and spending on the Hemlo East Property.  Barrick may withdraw from the earn-in at any time, provided it has paid to MetalCorp the Cdn$3,000,000 Initial Payment and fulfilled its obligation to fund the Cdn$700,000 Guaranteed Amount of expenditures on the Hemlo East Property.After completion of the earn-in, Barrick and MetalCorp will form a joint venture company (“JVCo”), to hold the Hemlo East Property, to be owned 80% by Barrick and 20% by MetalCorp with funding on a pro-rata basis. Dilution of a shareholder’s interest below 10% will result in the conversion of the interest to a 2% Net Smelter Return royalty. The party holding a majority of shares will be the operator of the JVCo.METALCORP MetalCorp is a mineral exploration company based in Thunder Bay, Ontario, with gold, PGE 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 www.metalcorp.ca.For further information, please contact:  Pierre Gagné, Director  Phone: (807) 626-3621  info@metalcorp.ca Caution Regarding Forward-Looking Information Except for statements of historical fact contained herein, information in this press release may constitute "forward-looking information" within the meaning of Canadian securities laws.  Other than statements of historical fact, all statements herein that involve various known and unknown risks, uncertainties and other factors are "forward-looking information" (such forward-looking information includes, without limitation, statements regarding TSX Venture Exchange acceptance of the Earn-In Agreement and completion of the earn-in and formation of JVCo).  There can be no assurance that such statements will prove accurate.  Results and future events could differ materially from those anticipated in such statements.  Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to obtain TSX Venture Exchange acceptance of the Earn-In Agreement.  Readers of this news release are cautioned not to place undue reliance on these "forward-looking statements".  Except as otherwise required by applicable securities statutes or regulation, MetalCorp expressly disclaims any intention or obligation to update publicly any forward-looking information, whether as a result of new information, future events or otherwise.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, accuracy or contents of this news release.

  • GlobeNewswire

    Pierre Gagné, Chris Dougherty and Donald Sheldon Announce Acquisition of Additional MetalCorp Securities

    THUNDER BAY, Ontario, Sept. 22, 2020 (GLOBE NEWSWIRE) -- Mr. Pierre Gagné, Mr. Chris Dougherty and Mr. Donald Sheldon announce that on September 18, 2020 Mr. Gagné acquired ownership of or control over an additional 6,048,350 common shares (each, a “Common Share”) in the capital of MetalCorp Limited (“MetalCorp” or the “Issuer”) (TSXV: MTC), Mr. Dougherty acquired ownership of or control over an additional 6,740,166 Common Shares and Mr. Sheldon acquired ownership of or control over an additional 7,585,835 Common Shares, respectively, at a price of $0.03 per Common Share through settlement of debts with the Issuer. Prior to acquiring such Common Shares, (i) Mr. Gagné owned or controlled 16,610,382 Common Shares representing approximately 16.95% of the issued and outstanding Common Shares and 2,000,000 stock options that, if exercised, would have represented approximately 2.04% of the issued and outstanding Common Shares, (ii) Mr. Dougherty owned or controlled 7,842,830 Common Shares representing approximately 8.00% of the issued and outstanding Common Shares and 2,000,000 stock options that, if exercised, would have represented approximately 2.04% of the issued and outstanding Common Shares, and (iii) Mr. Sheldon owned or controlled 1,365,707 Common Shares representing approximately 1.39% of the issued and outstanding Common Shares and 2,000,000 stock options that, if exercised, would have represented approximately 2.04% of the issued and outstanding Common Shares, provided that, for the purposes of National Instrument 62-104, Mr. Sheldon is deemed to beneficially own 3,809,610 Common Shares which Mr. Sheldon or entities which he controls lent to the Issuer in 2019 and 2013 and, accordingly, for the purposes of National Instrument 62-104, Mr. Sheldon is considered to have had ownership, control and beneficial ownership of 5,175,317 Common Shares representing approximately 5.28% of the issued and outstanding Common Shares and 2,000,000 stock options that, if exercised, would have represented approximately 2.04% of the issued and outstanding Common Shares (calculated on a diluted basis).As a result of the above-noted acquisition, (i) Mr. Gagné now owns or controls 22,658,732 Common Shares representing approximately 18.96% of the issued and outstanding Common Shares and 2,000,000 stock options that, if exercised, would represent approximately 1.57% of the issued and outstanding Common Shares (calculated on a diluted basis), (ii) Mr. Dougherty now owns or controls 14,582,996 Common Shares representing approximately 12.20% of the issued and outstanding Common Shares and 2,000,000 stock options that, if exercised, would represent approximately 1.57% of the issued and outstanding Common Shares (calculated on a diluted basis) and (iii) Mr. Sheldon now owns or controls 8,951,542 Common Shares representing approximately 7.49% of the issued and outstanding Common Shares and 2,000,000 stock options that, if exercised, would represent approximately 1.57% of the issued and outstanding Common Shares (calculated on a diluted basis) provided that, for the purposes of National Instrument 62-104, Mr. Sheldon is now considered to have ownership, control and beneficial ownership of 12,761,152 Common Shares representing approximately 10.68% of the issued and outstanding Common Shares and 2,000,000 stock options that, if exercised, would represent approximately 1.57% of the issued and outstanding Common Shares (calculated on a diluted basis).Mr. Gagné Mr. Dougherty and Mr. Sheldon have no present intention of acquiring additional securities of MetalCorp (other than with respect to the proposed acquisition of 729,500 Common Shares by Pierre Gagné Contracting Ltd. conditional on approval by disinterested shareholders of the Issuer which is being sought at a shareholders meeting currently scheduled to be held on December 8, 2020). Depending upon their evaluation of the business, prospects and financial condition of the Issuer, the market for the Issuer’s securities, general economic and tax conditions and other factors, any of them or entities controlled by them may acquire more or sell some or all of their MetalCorp securities.The shares-for-debt transactions were entered into for the purpose of assisting MetalCorp in reducing its debts and liabilities at a time when it did not have the cash or other resources to pay such debts and liabilities and thereby assist MetalCorp in reducing its working capital deficiency and enabling it to use its limited cash and other financial resources for ongoing operations and other obligations.MetalCorp relied on the prospectus exemption provided in the National Instrument 45-106, section 2.14 – Securities for Debt in respect of its issuance of the Common Shares.For more information and to obtain a copy of the early warning reports required by securities legislation and filed on SEDAR under MetalCorp’s company profile at www.sedar.com, please contact:Pierre Gagné, director of MetalCorp Limited Telephone: (807) 626-3621 Chris Dougherty, director of MetalCorp Limited Telephone: (807) 683-1730 Donald Sheldon, Chief Executive Officer and a director of MetalCorp Limited Telephone: (416) 777-4017 c/o MetalCorp Limited 490 Maureen Street Thunder Bay, Ontario P7B 6T2