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Metals Creek Resources Corp. Announces Further Increase In Non-Brokered Private Placement of Flow-Through and Non Flow-Through Units
Toronto, Ontario--(Newsfile Corp. - November 14, 2017) - Metals Creek Resources Corp. (TSXV: M...
About this update from Metals Creek Resources Corp.
[{"type":"text","content":"Metals Creek Resources Corp. Announces Further Increase In Non-Brokered Private Placement of Flow-Through and Non Flow-Through UnitsToronto, Ontario--(Newsfile Corp. - November 14, 2017) - Metals Creek Resources Corp. (TSXV: MEK) (\"Metals Creek\" or the \"Company\") announces, further to its press release dated October 6, 2017, that it has amended the terms of the non-brokered private placement of flow-through and non flow-through units (the \"Private Placement\") previously announced by the Company on September 28, 2017.The Company now intends to issue up to 9,166,667 non flow-through units at a price of $0.06 per unit (the \"NFT Units\") for aggregate proceeds of up to $550,000, rather than the 7,500,000 NFT Units previously announced. Each NFT Unit will consist of one non flow-through common share and one non flow-through common share purchase warrant (the \"Warrants\"). Each Warrant will entitle the holder to purchase one additional non flow-through common share of the Company at an exercise price of $0.12 per common share for a period of 36 months from the date of issue. To date, the Company has issued 6,900,000 NFT Units as part of the Private Placement for aggregate gross proceeds of $414,000.The Company still intends to issue up to 6,250,000 flow-through units at a price of $0.08 per unit (the \"FT Units\") for aggregate proceeds of up to $500,000. Each FT Unit will consist of one flow-through common share (the \"FT Shares\") and one-half of one non flow-through common share purchase warrant (the \"Warrants\"). Each whole Warrant will entitle the holder to purchase one additional non flow-through common share of the Company at an exercise price of $0.12 per common share for a period of 36 months from the date of issue. The FT Shares will entitle the holder to receive the tax benefits applicable to flow-through shares, in accordance with provisions of the Income Tax Act (Canada). To date, the Company has issued 2,650,000 FT Units as part of the Private Placement for aggregate gross proceeds of $212,000.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 (the \"Exchange\"). All securities issued pursuant to the Private Placement will be subject to a four-month hold period. The Private Placement...