Mr. Alexander Stares reports
METALS CREEK RESOURCES CORP. INCREASES NON-BROKERED PRIVATE PLACEMENT TO $1 MILLION
Metals Creek Resources Corp. has amended the terms to its non-brokered private placement of both non-flow-through and flow-through units previously announced April 2, 2026, for an aggregate total funds raised of up to $1-million.
The company now intends to issue up to 14,285,714 flow-through units at a price of 3.5 cents per unit for aggregate proceeds of up to $500,000. Each FT unit will consist of one flow-through common share and one-half of a non-flow-through common share purchase warrant. Each whole FT warrant will entitle the holder to purchase one additional non-flow-through common share of the company at an exercise price of six cents per common share for a period of 36 months from the date of issue. The FT shares will entitle the holder to receive the tax benefits applicable to flow-through shares in accordance with provisions of the Income Tax Act (Canada).
The company also intends to issue up to 16,666,667 non-flow-through units at a price of three cents per unit for aggregate proceeds of up to $500,000. Each NFT unit will consist of one non-flow-through common share and one non-flow-through common share purchase warrant. Each NFT warrant will entitle the holder to purchase one additional non-flow-through common share of the company at an exercise price of five cents per common share for a period of 36 months from the date of issue.
In connection with the private placement, the company may pay finders' fees in cash, securities or a combination of both, as permitted by the policies of the TSX Venture Exchange. All securities issued pursuant to the private placement will be subject to a four-month hold period. The private placement is subject to approval by the TSX Venture Exchange.
The proceeds raised from the FT units will be used for exploration on the company's Newfoundland and Ontario properties including its Ogden gold project and will ensure that such Canadian exploration expenses qualify as a flow-through mining expenditure for purposes of the Income Tax Act (Canada), related to the exploration of the company's exploration projects.
About Metals Creek Resources Corp.
Metals Creek is a junior exploration company incorporated under the laws of the Province of British Columbia, is a reporting issuer in Alberta, British Columbia and Ontario, and has its common shares listed for trading on the exchange under the symbol MEK.
Metals Creek has earned a 50-per-cent interest in the Ogden gold property, including the past-producing Naybob gold mine, located six kilometres south of Timmins, Ont., and has an eight-kilometre strike length of the prolific Porcupine-Destor fault.
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