Metals Creek Resources Corp. Seeks Approval for First Tranche of Non-Brokered Private Placement of Flow-Through and Non Flow-Through Units

Rhea-AI Summary

Metals Creek Resources Corp. (TSXV: MEK) (FSE: M1C1) announces approval to close the first tranche of its non-brokered private placement, issuing 11,173,400 flow-through units for $335,202. The company also plans to close the non flow-through portion in mid-January 2024, with proceeds to be used for exploration at the Shabaqua Corners Gold Property and general working capital.

Thunder Bay, Ontario--(Newsfile Corp. - December 20, 2023) - Metals Creek Resources Corp. (TSXV: MEK) (FSE: M1C1) (the "Company" or Metals Creek) is pleased to announce that, further to its November 29, 2023 news release, it has filed documents with the TSX Venture Exchange (the "Exchange") seeking approval to close the first tranche of its non-brokered private placement of flow-through and non flow-through units (the "Financing").

On receipt of Exchange approval, the Company will issue 11,173,400 flow-through units ("FT Units") for aggregate gross proceeds of $335,202. Each FT Unit consists of 1 flow-through common share and 1 common share purchase warrant ("Warrants"), each Warrant being exercisable at $0.06 for 24 months from the date of issuance.

The Company may pay finder's fees in cash and broker warrants in accordance with Exchange policy.

The Company intends to close the non flow-through portion of the Financing in mid-January, 2024.

All securities issued pursuant to the Private Placement are subject to a four-month and one day hold period.

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.sedarplus.ca.

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/191756

FAQ

What is the latest announcement from Metals Creek Resources Corp. (TSXV: MEK) (FSE: M1C1)?

Metals Creek Resources Corp. (TSXV: MEK) (FSE: M1C1) has announced the approval to close the first tranche of its non-brokered private placement, issuing 11,173,400 flow-through units for $335,202.

What are the details of the private placement by Metals Creek Resources Corp. (TSXV: MEK) (FSE: M1C1)?

The private placement includes 11,173,400 flow-through units for aggregate gross proceeds of $335,202, with each unit consisting of 1 flow-through common share and 1 common share purchase warrant.

What are the plans for the non flow-through portion of the financing by Metals Creek Resources Corp. (TSXV: MEK) (FSE: M1C1)?

Metals Creek Resources Corp. (TSXV: MEK) (FSE: M1C1) intends to close the non flow-through portion of the financing in mid-January 2024.

How will the proceeds from the private placement be utilized by Metals Creek Resources Corp. (TSXV: MEK) (FSE: M1C1)?

The proceeds from the private placement will be used for ongoing exploration at the Company's Shabaqua Corners Gold Property and general working capital.