Metals Creek Resources Corp. Closes Non-Brokered Private Placement of Flow-Through and Non Flow- Through Units, Oversubscribed
Metals Creek Resources Corp. Closes Non-Brokered
Private Placement of Flow-Through and Non Flow-
Through Units, Oversubscribed
Toronto, Ontario--(Newsfile Corp. - July 25, 2018) - Metals Creek Resources Corp. (TSXV: MEK) (the "Company") is pleased to
announce that, further to a news release dated June 22, 2018, it has closed its previously announced non-brokered private
placement, oversubscribed. (The "Placement") for gross proceeds of $275,000, consisting of 1,800,000 non flow-through units
at a price of $0.05 per unit and 3,083,333 flow-through units at a price of $0.06 per unit.
The Placement is subject to the final
acceptance of the TSX Venture Exchange.
Each flow-through unit under the Placement consists of one flow-through common share and one half warrant. Each full warrant
will entitle the holder to purchase one additional non flow-through common share of the Company at an exercise price of $0.10
during the 24 months from the closing date.
Each non flow-through unit under the Placement consists of one non flow-through common share and one whole warrant. Each
warrant will entitle the holder to purchase one additional non flow-through common share of the Company at an exercise price of
$0.10 during the 24 months from the closing date.
All securities issued in the Placement are subject to a four month hold period. In connection with the closing of the Placement,
the Company issued 220,000 finders warrants having an exercise price of $0.10 per common share and an expiration date of
July 25, 2020. The Company also
paid finders fees and other commission equal to $9,900.
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 a 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 have
also signed a LOI 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
.
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.
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/MetalsCreek