Metals Creek Resources Corp. Announces $1 Million Non-Brokered Private Placement
Metals Creek Resources Corp. Announces $1
Million Non-Brokered Private Placement
Thunder Bay, Ontario--(Newsfile Corp. - June 30, 2026) -
Metals Creek Resources Corp. (TSXV:
MEK) (FSE: M1C1) (the "Company" or "Metals Creek")
is pleased to announce that it intends to
complete a non-brokered private placement of both flow-through and non-flow-through units (the "Private
Placement") for an aggregate total of up to $1 million.
The Private Placement is expected to close on or
before July 31, 2026.
The Company intends to issue up to 9,090,909 flow-through units at a price of $0.055 per unit (the "FT
Units") for aggregate proceeds of up to $500,000.
Each FT Unit will consist of one flow-through common
share (the "FT Shares") and one-half of a non-flow through common share purchase warrant (the "FT
Warrants"). 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 $0.10 per common share for a period of 24
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 10,000,000 non-flow through units at a price of $0.05 per unit
(the "NFT Units") 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 (the "NFT Warrants").
Each NFT Warrant will entitle the holder to purchase one additional non-flow through common share of
the Company at an exercise price of $0.10 per common share for a period of 24 months from the date of
issue.
In connection with the Private Placement, the Company may pay finders' fees in cash or 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 financing will be used for exploration on the Company's Newfoundland
Hydrogen/Helium projects, its Ogden Gold Project and for general working capital purposes.
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 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 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).
Metals Creek has also jointly acquired through staking on a 50/50 basis with Benton Resources,
potential natural white hydrogen projects in Newfoundland.
The Smoking Gun Prospect
was selected
after
research uncovered highly anomalous helium with values up to 8,900 parts per billion
(ppb)
in water collected from an historic drill hole.
These licenses are located within the Deer Lake
Basin, which is thought to be a prospective environment for the presence
Helium (He)
and
Natural
(White) Hydrogen (H
₂
)
.
At
Parson's Pond
, research of historical drill logs in two holes 14.2 km apart, have observed C1
methane gas levels reaching 72%. The area is underlain by thrust faulted rocks of the Humber Arm
Supergroup. Drill logs indicate unique sedimentary units composed of shales along with sandstones
containing fragments of
serpentine
and
chrome
. Of particular interest, is the presence of the mineral
glauconite
, which, combined with these geological indicators, suggests a highly prospective
environment for the potential formation of
white hydrogen,
(natural hydrogen) to form within the basin.
The presence of such high concentrations of methane alongside hydrogen indicators suggests a
potentially active gas system within the basin. In addition, surface areas have been noted to vent gas
within the project boundaries.
Additional information concerning the Company is contained in documents filed by the Company with
securities regulators, available under its profile at
www.sedarplus.ca
.
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
709-424-1141
Metals Creek Resources Corp
MetalsCreek.com
Twitter.com/MetalsCreekRes
Facebook.com/MetalsCreek
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/303564