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Metals Creek Resources Corp. Announces Non-Brokered Private Placement to Advance Tillex Copper Project and Shabaqua Corners Gold Project
Thunder Bay, Ontario--(Newsfile Corp. - June 18, 2024) - Metals Creek Resources Corp. (TSXV: MEK...
About this update from Metals Creek Resources Corp.
[{"type":"text","content":"Metals Creek Resources Corp. Announces Non-Brokered Private Placement to Advance Tillex Copper Project and Shabaqua Corners Gold ProjectThunder Bay, Ontario--(Newsfile Corp. - June 18, 2024) - Metals Creek Resources Corp. (TSXV: MEK) (FSE: M1C1) (the \"Company\" or Metals Creek) announces that it intends to complete a non-brokered private placement of flow-through and non flow-through units (the \"Private Placement\"). The Private placement is expected to close on or before 31 July 2024.The Company intends to issue up to 8,000,000 flow-through units at a price of $0.025 per unit (the \"FT Units\") for aggregate proceeds of up to $200,000. Each FT Unit will consist of one flow-through common share (the \"FT Shares\") and one non flow-through common share purchase warrant (the \"FT Warrants\"). Each whole FT Warrant will entitle the holder to purchase one additional non flow-through common share of the Company at an exercise price of $0.06 per common share for a period of 24 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).The Company also intends to issue up to 8,000,000 non flow-through units at a price of $0.025 per unit (the \"NFT Units\") for aggregate proceeds of up to $200,000. Each NFT Unit will consist of one non flow-through common share and one non flow-through common share purchase warrant (the \"NFT Warrants\"). Each NFT Warrant will entitle the holder to purchase one additional non flow-through common share of the Company at an exercise price of $0.05 per common share for a period of 24 months from the date of issue.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. All securities issued pursuant to the Private Placement will be subject to a four-month hold period. The Private Placement is subject to approval by the TSX Venture Exchange.The proceeds raised from the FT Units will be used for drilling on the Company's Tillex Copper Project and the Shabaqua Corners Gold Property and will ensure that such Canadian Exploration Expenses qualify as a \"flow-through mining expenditure\" for purposes of the Income Tax Act (Canada), related to the explorati...