Metals Creek Resources Corp. (TSXV: MEK) (OTCQB: MCREF) (FRA:M1C1) (the "Company" or Metals Creek) is pleased to announce that the company has closed a non-brokered private placement of flow-through units (the "Private Placement").
The company has raised aggregate proceeds of $1,009,140 by issuing 4,587,000 flow-through units at 22 cents per unit, with each flow-through unit consisting of one flow-through common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one non-flow-through share of at an exercise price of $0.30 for 36 months from the date of issuance. Issuer will have the option to accelerate warrant expiration, 30 days from notice date, if common shares trade at or above $0.45 for 60 consecutive trading days. All securities issued pursuant to the Financing are subject to a four-month and one day hold period. No cash finders' fees or finders' warrants were paid in connection with this financing. The flow-through shares entitle holders to receive the tax benefits applicable to flow-through shares, in accordance with provisions of the Income Tax Act (Canada).
Alexander (Sandy) Stares, states, "We are delighted to have Cordillera Minerals 2021 Flow-Through Limited Partnership participate in this financing. Proceeds from this financing will be used to further advance the Companies two flagship properties, the Ogden Gold Project and the Dona Lake Gold Project."
Metals Creek Resources Corp. is a junior exploration company incorporated under the laws of the Province of Ontario, 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% interest in the Ogden Gold Property from Newmont Corporation, including the former Naybob Gold mine, located 6 km south of Timmins, Ontario and has an 8 km strike length of the prolific Porcupine-Destor Fault (P-DF). In addition, Metals Creek has signed an agreement with Newmont Corporation, where Metals Creek can earn a 100% interest in the past producing Dona Lake Gold Project in the Pickle Lake Mining District of Ontario.
Metals Creek also has multiple quality projects available for option in Ontario and Newfoundland which can be viewed on the Company's website. Parties interested in seeking more information about properties available for option can contact the Company at the number below.
Additional information concerning the Company is contained in documents filed by the Company with securities regulators, available under its profile at www.sedar.com.
Neither the 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 or accuracy of this release.
Alexander (Sandy) Stares, President and CEO
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