Metals Creek Resources Corp. Announces Non-Brokered Private Placement of Flow-Through and Non Flow- Through Units
Metals Creek Resources Corp. Announces Non-Brokered
Private Placement of Flow-Through and Non Flow-
Through Units
Toronto, Ontario--(Newsfile Corp. - December 19, 2018) - Metals Creek Resources Corp. (TSXV: MEK) ("Metals Creek" or the
"Company") announces that it intends to complete a non-brokered private placement of flow-through and non flow-through units
(the "Private Placement"). The Private placement is expected to close on or before 31 December, 2018.
The Company intends to issue up to 7,272,277 flow-through units at a price of $0.055 per unit (the "FT Units") for aggregate
proceeds of up to $400,000. Each FT Unit will consist of one flow-through common share (the "FT Shares") and one-half of one
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
12 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 2,00,000 non flow-through units at a price of $0.05 per unit (the "NFT Units") for
aggregate proceeds of up to $100,000. 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 12
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 FT Units will be used for Canadian Exploration Expenses (within the meaning of the
Income Tax
Act
(Canada)), with the Company using its best efforts to 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) that
stretches between Timmins, Ontario and Val d'Or, Quebec. Metals Creek also has an option agreement with Quadro Resources
on Metals Creeks and Benton Resources Staghorn Gold Project in Newfoundland as well as two option agreements with
Anaconda Mining Inc. on Metals Creek's Jacksons Arm and Tilt Cove Properties also in Newfoundland. The company also has
an option agreement on its Clarks Brook property with Sokoman Iron Corp. and is engaged in the identification, acquisition,
exploration and development of other mineral resource properties, and presently has mining interests in Ontario, Yukon and
Newfoundland and Labrador including the recently acquired Great Brehat project on the Great Northern Peninsula of
Newfoundland. Additional information concerning the Corporation is contained in documents filed by the Corporation with
securities regulators, available under its profile at
www.sedar.com
. For further information, please contact:
Alexander (Sandy) Stares, President and CEO
Metals Creek Resources Corp
telephone: (709)-256-6060
fax: (709)-256-6061
email:
MetalsCreek.com
Twitter.com/MetalsCreekRes
Facebook.com/Metals.CreekResources