Metals Creek Closes Second Tranche of Private Placement Financing
Metals Creek Resources (TSXV: MEK) has completed the second tranche of its Private Placement Financing, raising $60,000 in gross proceeds. The company issued 2,500,000 flow-through units at $0.02 per unit and 500,000 non-flow-through units, with each unit including share purchase warrants exercisable at $0.05 for 3 years.
The company has requested a 30-day extension from the TSX Venture Exchange to continue the financing until August 11, 2025. Proceeds from the flow-through units will fund exploration activities in Newfoundland and Ontario, particularly focusing on the Ogden project.
Metals Creek Resources (TSXV: MEK) ha completato la seconda tranche del suo finanziamento tramite collocamento privato, raccogliendo 60.000$ di proventi lordi. La società ha emesso 2.500.000 unità flow-through al prezzo di 0,02$ per unità e 500.000 unità non flow-through, con ciascuna unità che include warrant per l'acquisto di azioni esercitabili a 0,05$ per 3 anni.
La società ha richiesto una proroga di 30 giorni alla TSX Venture Exchange per prolungare il finanziamento fino all'11 agosto 2025. I proventi derivanti dalle unità flow-through finanzieranno le attività di esplorazione a Terranova e Ontario, con particolare attenzione al progetto Ogden.
Metals Creek Resources (TSXV: MEK) ha completado la segunda fase de su financiamiento mediante colocación privada, recaudando 60,000$ en ingresos brutos. La compañía emitió 2,500,000 unidades flow-through a 0.02$ por unidad y 500,000 unidades no flow-through, incluyendo cada unidad warrants para comprar acciones ejercitables a 0.05$ durante 3 años.
La empresa ha solicitado una extensión de 30 días a la Bolsa de Valores TSX Venture para continuar con el financiamiento hasta el 11 de agosto de 2025. Los ingresos de las unidades flow-through financiarán actividades de exploración en Terranova y Ontario, con un enfoque especial en el proyecto Ogden.
Metals Creek Resources (TSXV: MEK)는 두 번째 사모 투자 단계에서 총 60,000달러의 자금을 조달했습니다. 회사는 2,500,000개의 플로우스루 유닛을 단가 0.02달러에, 500,000개의 비플로우스루 유닛을 발행했으며, 각 유닛에는 3년간 0.05달러에 행사 가능한 주식 매수 워런트가 포함되어 있습니다.
회사는 TSX 벤처 거래소에 30일 연장을 요청하여 2025년 8월 11일까지 자금 조달을 계속할 예정입니다. 플로우스루 유닛에서 발생한 자금은 뉴펀들랜드와 온타리오에서의 탐사 활동, 특히 오그든 프로젝트에 사용될 계획입니다.
Metals Creek Resources (TSXV : MEK) a finalisé la deuxième tranche de son financement par placement privé, levant 60 000 $ de produits bruts. La société a émis 2 500 000 unités flow-through à 0,02 $ l’unité et 500 000 unités non flow-through, chaque unité incluant des bons de souscription d’actions exerçables à 0,05 $ pendant 3 ans.
La société a demandé une prolongation de 30 jours à la TSX Venture Exchange afin de poursuivre le financement jusqu’au 11 août 2025. Les fonds issus des unités flow-through financeront les activités d’exploration à Terre-Neuve et en Ontario, en se concentrant particulièrement sur le projet Ogden.
Metals Creek Resources (TSXV: MEK) hat die zweite Tranche seiner Privatplatzierungsfinanzierung abgeschlossen und dabei 60.000 $ Bruttoerlöse erzielt. Das Unternehmen gab 2.500.000 Flow-Through-Einheiten zu je 0,02 $ sowie 500.000 Nicht-Flow-Through-Einheiten aus, wobei jede Einheit Kaufoptionsscheine für Aktien enthält, die zu 0,05 $ über 3 Jahre ausgeübt werden können.
Das Unternehmen hat eine 30-tägige Verlängerung bei der TSX Venture Exchange beantragt, um die Finanzierung bis zum 11. August 2025 fortzusetzen. Die Erlöse aus den Flow-Through-Einheiten werden die Explorationsaktivitäten in Neufundland und Ontario finanzieren, wobei der Schwerpunkt auf dem Ogden-Projekt liegt.
- Successfully raised $60,000 in additional capital through second tranche financing
- Flow-through financing structure provides tax benefits for participating investors
- Proceeds will fund exploration activities across multiple properties in Newfoundland and Ontario
- Small financing amount of only $60,000 indicates limited funding scope
- Warrant exercise price of $0.05 represents potential future dilution
- Request for 30-day financing extension suggests possible challenges in completing the raise
Thunder Bay, Ontario--(Newsfile Corp. - July 14, 2025) - Metals Creek Resources Corp. (TSXV: MEK) (FSE: M1C1) (the "Company" or Metals Creek) is pleased to announce that, further to its May 27, 2025 and June 25, 2025 news releases, it has closed a second tranche of the its Prive Placement Financing (the "Financing"), issuing 2,500,000
Further, the Company has requested TSX Venture Exchange (the "Exchange") approval to extend the Financing for 30 days, to August 11, 2025.
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 final 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 target generation through prospecting on the company's Ogden project, and the company will ensure that such Canadian exploration expenses qualify as a flow-through mining expenditure for purposes of the Income Tax Act (Canada).
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
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
709-424-1141
MetalsCreek.com
Twitter.com/MetalsCreekRes
Facebook.com/MetalsCreek
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/258806
FAQ
How much did Metals Creek Resources (TSXV: MEK) raise in its second tranche financing?
What are the terms of the warrants in Metals Creek's July 2025 private placement?
How will Metals Creek (TSXV: MEK) use the proceeds from the flow-through units?
When does Metals Creek's private placement financing extension end?
What is the hold period for securities issued in Metals Creek's private placement?
