Metals Creek Resources Corp. Files for Final Approval of Private Placement

Metals Creek Resources Corp. has filed for final TSX Venture Exchange approval to close a non-brokered private placement. The financing involves the issuance of 21,850,000 non-flow-through (NFT) units and 24,738,564 flow-through (FT) units, with aggregate gross proceeds totaling $2,453,121.02.

Each NFT unit contains one common share and one NFT warrant exercisable at $0.08 per share for 24 months. Each FT unit contains one common share and one-half of an FT warrant exercisable at $0.08 per share for 24 months. An insider subscribed for $55,000 worth of FT units, utilizing MI 61-101 exemptions. Finders' fees include $97,378.47 in cash and 1,748,244 non-transferable broker warrants at $0.08 per share for 24 months. All securities carry a four-month hold period.

Proceeds are designated for exploration on the Ogden Gold Project in Ontario to ensure Canadian Exploration Expenses qualify as flow-through mining expenditures.

Metals Creek Resources Corp. finalized a $2.45 million financing on July 31, following a series of adjustments to its initial capital raise target. The company first announced a $1 million target on June 30, which was increased to $2 million on July 14, raised again to $2.5 million on July 16, and ultimately settled at the final amount. This transaction serves as an incremental follow-up to previously announced financings, with the market having been aware of the capital raise in advance.

The deal is dilutive, adding approximately 46.6 million shares to the company’s existing base of roughly 216 million outstanding shares, representing about 21.6% dilution. The funds are necessary to support the Ogden drill program and to meet a $612,614 flow-through spending obligation due by December 31, 2026. This move aligns with Metals Creek Resources Corp.’s historical pattern of raising capital to sustain exploration activities, providing essential runway without altering the company's fundamental risk profile.

Metals Creek Resources Corp. (TSXV: MEK) is a junior exploration company with no revenue-producing assets. The firm is entirely in the exploration and prospecting stage, relying on equity financings to fund operations.

Its flagship asset is the Ogden Gold Project in Timmins, Ontario, which sits on the Porcupine-Destor Break with approximately 8km of strike length and six identified mineralization zones. The project is a 50/50 joint venture with Discovery Silver Corp., with Metals Creek acting as operator.

Other assets include six natural hydrogen and helium projects in Newfoundland, jointly staked with Benton Resources, and the Flint North Project in Ontario. The company also recently divested the Tillex Copper Project.