Metals Creek Resources Corp. Gets Conditional Approval, Closes First Tranche of Private Placement
Metals Creek Resources Corp. Gets
Conditional Approval, Closes First Tranche of
Private Placement
Thunder Bay, Ontario--(Newsfile Corp. - April 17, 2026) -
Metals Creek Resources Corp. (TSXV:
MEK) (FSE: M1C1) (the "Company" or "Metals Creek")
the Company announces that, further to its
April 2, 2026 and April 15, 2026 news releases it has received conditional approval from the TSX
Venture Exchange (the "Exchange") for its non-brokered private placement of both non-flow through and
flow-through units (the "Financing") and has closed a first tranche for aggregate gross proceeds of
$557,500 on the issuance of 18,350,000 NFT Units and 200,000 FT Units.
The Company intends to issue up to 25,000,000 non-flow through units at a price of $0.03 per unit (the
"NFT Units") for aggregate proceeds of up to $750,000, .each NFT Unit consisting of one non-flow
through common share and one non-flow through common share purchase warrant (the "NFT Warrants").
Each NFT Warrant entitles the holder to purchase one additional non-flow through common share of the
Company at an exercise price of $0.05 per common share for a period of 36 months from the date of
issue.
The Company will also issue up to 14,285,714 flow-through units at a price of $0.035 per unit (the "FT
Units") for aggregate proceeds of up to $500,000, each FT Unit consisting 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 entitles the holder to purchase one additional non-flow through
common share of the Company at an exercise price of $0.06 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).
In connection with the first tranche of the private placement, the Company paid $16,800 in cash finders'
fees as well as issued 560,000 finders' warrants exercisable at $0.05 per common share for a period of
36 months from the date of issue. 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 Resources Corp. 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% interest in the Ogden Gold Property, including the past producing
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 also has multiple quality projects available for option 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.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
Metals Creek Resources Corp
telephone: (709)-256-6060
MetalsCreek.com
Twitter.com/MetalsCreekRes
Facebook.com/MetalsCreek
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/293141