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Metals Creek Resources Corp. Closes First Tranche of Non-Brokered Private Placement of Flow-Through and Non Flow-Through Units
Toronto, Ontario--(Newsfile Corp. - October 23, 2017) - Metals Creek Resources Corp. (TSXV: ME...
About this update from Metals Creek Resources Corp.
[{"type":"text","content":"Metals Creek Resources Corp. Closes First Tranche of Non-Brokered Private Placement of Flow-Through and Non Flow-Through UnitsToronto, Ontario--(Newsfile Corp. - October 23, 2017) - Metals Creek Resources Corp. (TSXV: MEK) (the \"Company\") is pleased to announce that, further to a new release dated October 6, 2017, it has closed the first tranche of its previously announced non-brokered private placement (the \"Placement\") for gross proceeds of $332,000, consisting of 2,650,000 flow-through units at a price of $0.08 per unit for gross proceeds of $212,000 and 2,000,000 non flow-through units at a price of $0.06 per unit for gross proceeds of $120,000. The Placement is subject to the final acceptance of the TSX Venture Exchange. Each flow-through unit under the Placement consists of one flow-through common share and one half warrant. Each full warrant will entitle the holder to purchase one additional non flow-through common share of the Company at an exercise price of $0.12 during the 36 months from the closing date.Each non flow-through unit under the Placement consists of one non flow-through common share and one whole warrant. 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 during the 36 months from the closing date. All securities issued in the Placement are subject to a four month hold period. In connection with the Placement, the Company issued 124,250 finders warrants having the same terms as the warrants issued under the Placement and paid finders fees and other commission equal to $8,540.The proceeds raised from the FT Units will be used for approximately 4,000 meters of diamond drilling on the Ogden Gold Project in Timmins Ontario and other Canadian Exploration Expenses (within the meaning of the Income Tax Act (Canada)), with the Company using its best efforts to ensure that such Canadian Exploration Expenses qualify as a \"flow-through mining expenditure\" for purposes of the Income Tax Act (Canada), related to the exploration of the Company's exploration projects.About Metals Creek Resources Corp.Metals Creek Resources Corp. is a junior exploration company incorporated under the laws of the Province of Ontario, is a reporting issuer in Alberta, British Columbia and Ontario, and has its common shares listed for trading on the...