Metals Creek Resources Corp. Closes Second Tranche and Announces Additional Extension of Non-Brokered Private Placement of Flow-Through and Non Flow-Through Units
Thunder Bay, August 22, 2023 - Metals Creek Resources Corp. (TSXV: MEK) (FSE: M1C1) (the "Company" or Metals Creek) is pleased to announce that, further to a news release dated July 25, 2023, it has closed a second tranche of its previously announced non-brokered private placement of flow-through and non flow-through units for aggregate gross proceeds of up to $400,000 (the "Private Placement").
The Company has raised in this second tranche aggregate proceeds of $30,000 by issuing 1,000,000 flow-through units at $0.03 per unit (with each flow-through unit consisting of one flow-through common share and one common share purchase warrant). The flow-through unit warrants are exercisable for one common share of the Company at an exercise price of $0.06 for a period of 24 months from the date of issuance. Together with the first tranche closed on July 25, 2023, the Company has issued an aggregate of 5,847,866 flow-through units for gross proceeds of $175,436, and an aggregate of 300,000 non flow-through units for gross proceeds of $9,000. All securities issued pursuant to the Private Placement are subject to a four-month and one day hold period.
The Company also announces that, further to a news release dated August 4, 2023, it will further extend its Private Placement to on or about September 20, 2023.
Proceeds of this Private placement will be used for ongoing exploration at the Company's Shabaqua Corners Gold Property and general working capital.
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 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 owns and/or has option agreements in place to acquire a 100% interest in claims in the Shabaqua Corners area of North western Ontario.
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.sedar.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from the ability of the Company to close on any additional tranches of the Private Placement, any future results, performance or achievements expressed or implied by the forward-looking statements, such as costs of sales, general economic conditions, the success of marketing and competition from competing suppliers and businesses. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. There can be no assurance that an additional tranche of the Private Placement will close, and no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
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
MetalsCreek.com
Twitter.com/MetalsCreekRes
Facebook.com/MetalsCreek
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/178182