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Metals Creek Resources Corp. Files to Close First Tranche of Flow-Through Private Placement Financing
Thunder Bay, Ontario--(Newsfile Corp. - July 10, 2024) - Metals Creek Resources Corp. (TSXV...
About this update from Metals Creek Resources Corp.
[{"type":"text","content":"\nMetals Creek Resources Corp. Files to Close First Tranche of Flow-Through Private Placement FinancingThunder Bay, Ontario--(Newsfile Corp. - July 10, 2024) - Metals Creek Resources Corp. (TSXV: MEK) (FSE: M1C1) (the \"Company\" or Metals Creek) further to its June 17, 2024 news release, the Company announces that it has filed documents with the TSX Venture Exchange seeking approval to close the first tranche of its non-brokered private placement financing (the \"Financing\").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, closing on 4,500,000 FT Units for proceeds of $112,500, in this first tranche. Each FT Unit consists of one flow-through common share (the \"FT Shares\") and one non-flow-through common share purchase warrant (the \"FT Warrants\"), with each FT Warrant entitling 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 10,000,000 non-flow-through units at a price of $0.02 per unit (the \"NFT Units\") for aggregate proceeds of up to $200,000, closing on 475,000 NFT Units for proceeds of $9,500, in this first tranche. Each NFT Unit consists of one non-flow-through common share and one non-flow-through common share purchase warrant (the \"NFT Warrants\"), with each NFT Warrant entitling the holder to purchase one additional 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 companies Tillex Copper Project and the Shabaqua Corners Gold Property and will ensure that such Canadian Explor...