Business
Metals Creek Resources Corp. File for Final Approval of Private Placement
Thunder Bay, Ontario--(Newsfile Corp. - May 19, 2026) - Metals Creek Resources Corp. (TSXV: MEK) (FSE: M1C1) (the "Company" or "Metals Creek") announces that,
About this update from Metals Creek Resources Corp.
[{"type":"text","content":"Thunder Bay, Ontario--(Newsfile Corp. - May 19, 2026) - Metals Creek Resources Corp. (TSXV: MEK) (FSE: M1C1) (the \"Company\" or \"Metals Creek\") announces that, further to its April 2, 2026, April 15, 2026 and April 22, 2026 news releases it has filed for final approval to close its non-brokered private placement financing for aggregate gross proceeds of $704,150 on the issuance of 21,080,000 non-flow-through units (\"NFT Units\") and 2,050,000 flow-through units (\"FT Units\"). Each NFT Unit consists of one non-flow through common share and one non-flow through common share purchase warrant (the \"NFT Warrants\"), each NFT Warrant entiling 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 36 months from the date of issue. Each FT Unit consists of one flow-through common share (the \"FT Shares\") and one-half of a non-flow through common share purchase warrant (the \"FT Warrants\"), each whole 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 36 months from the date of issue. The FT Shares entitle the holder to receive the tax benefits applicable to flow-through shares, in accordance with provisions of the Income Tax Act (Canada).In connection with the private placement, the Company has paid $23,915.50 in cash finders' fees and has issued 775,600 non-transferable broker warrants exercisable at $0.05 per common share for a period of 36 months from the date of issue. 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 Financing was effected with one insider of the Company subscribing for $45,000 - 1,500,000 NFT Units - that portion of the Financing a \"related party transaction\" as such term is defined under Multilateral Instrument 61- 101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). The Company is relying on exemptions from the formal valuation and minority approval requirements set out in MI 61-101. The Company is exempt from the formal valuation requirement of MI 61-101 under sections 5.5(a) and (b) of MI 61-101 in respect of the transactio...