Metals Creek increases private placement to $1-million

Executive Summary

• Metals Creek Resources Corp. has amended and increased the size of its non-brokered private placement to raise up to $1 million in aggregate proceeds.
• The financing is split into two tranches: up to $500,000 from flow-through units and up to $500,000 from non-flow-through units, subject to TSX Venture Exchange approval.
• Proceeds are designated for exploration on the company's Newfoundland and Ontario properties, specifically the Ogden gold project, ensuring qualifying Canadian exploration expenses.

Key Details

• Total Raise: Up to $1,000,000 in aggregate proceeds.
• Flow-Through Units (FT):
  • Quantity: Up to 14,285,714 units.
  • Price: 3.5 cents per unit.
  • Gross Proceeds: Up to $500,000.
  • Composition: One flow-through common share and one-half of a non-flow-through common share purchase warrant per unit.
  • Warrant Terms: Each whole FT warrant allows purchase of one additional non-flow-through common share at an exercise price of 6 cents per share for 36 months from issue date.
  • Tax Benefits: Holders receive tax benefits applicable to flow-through shares under the Income Tax Act (Canada).
• Non-Flow-Through Units (NFT):
  • Quantity: Up to 16,666,667 units.
  • Price: 3 cents per unit.
  • Gross Proceeds: Up to $500,000.
  • Composition: One non-flow-through common share and one non-flow-through common share purchase warrant per unit.
  • Warrant Terms: Each NFT warrant allows purchase of one additional non-flow-through common share at an exercise price of 5 cents per share for 36 months from issue date.
• Use of Proceeds: Exploration on Newfoundland and Ontario properties, including the Ogden gold project, to qualify as flow-through mining expenditures.
• Regulatory & Conditions:
  • Subject to approval by the TSX Venture Exchange.
  • All securities subject to a four-month hold period.
  • Finders' fees may be paid in cash, securities, or a combination, per TSXV policies.