Metals Creek receives TSX-V OK to close financing

Executive Summary

• Metals Creek Resources Corp. has received TSX Venture Exchange approval to close its non-brokered flow-through private placement financing.
• The company issued 5 million flow-through units at $0.04 per unit, raising aggregate gross proceeds of $200,000.
• Proceeds are designated for exploration on the company's Newfoundland and Ontario properties, specifically the Ogden gold project, to qualify as flow-through mining expenditures.

Key Details

• Transaction Structure: Non-brokered flow-through private placement.
• Units Issued: 5,000,000 flow-through units.
• Price Per Unit: $0.04 CAD.
• Gross Proceeds: $200,000 CAD.
• Unit Composition: Each flow-through unit consists of one flow-through common share and one-half of a non-flow-through common share purchase warrant.
• Warrant Terms: Each whole warrant entitles the holder to purchase one additional non-flow-through common share at an exercise price of $0.06 CAD. Warrants are exercisable for 24 months from the date of issue.
• Finder's Fees: Cash fees totaling $16,000 were paid.
• Broker Warrants: 400,000 broker warrants were issued, exercisable at $0.05 CAD for a period of five years.
• Hold Period: All securities issued are subject to a four-month hold period.
• Use of Proceeds: Exploration on Newfoundland and Ontario properties, including the Ogden gold project, ensuring Canadian exploration expenses qualify as flow-through mining expenditures under the Income Tax Act (Canada).

Notable Quotes

• None provided in the text.