MEK Announces Closing of $1.37 million Private Placement of Units and Retainer of Star Finance GmbH
Metals Creek Resources Announces Closing of $1.37 million Private Placement of Units and Retainer of Star Finance GmbH to Provide Investor Relations Services
Toronto, August 19, 2016. Metals Creek Resources Corp. (TSX-V: MEK) (”Metals Creek” or the “Company”) is pleased to announce that it has closed the private placement previously announced on August 16, 2016 (the “Private Placement”), for aggregate gross proceeds of $1,370,000. The Private Placement consisted of the issuance of 13,700,000 units at a price of $0.10 per unit (the “Units”).
Each Unit consists of one (1) common share (the “Unit Shares”) and one (1) common share purchase warrant (the “Warrants”). Each whole Warrant entitles the holder thereof to purchase one additional common share of the Company at an exercise price of $0.16 per common share for a period of 36 months from the date of issue. An aggregate of 13,700,000 Warrants were issued under the Private Placement.
In connection with the Private Placement, the Company issued 1,061,200 finder’s warrant entitling the holders to purchase one additional common share of the Company at an exercise price of $0.10 per share during the 36 months from the closing date. The Company also paid finder’s fees and other commission equal to $106,120.
The proceeds raised from the Units will be used for general corporate purposes. There is no material fact or material change about Metals Creek that has not been generally disclosed.
All securities issued in the Placement are subject to a four month hold period. The Private Placement is subject to the final acceptance of the TSX Venture Exchange.
Retainer of Star Finance GmbH
The Company is also pleased to announce that it has retained Star Finance GmbH (“Star Finance”) to provide investor relations services. The contract is for a period of 12 months commencing on September 1, 2016. Under the terms of the contract, the Company will pay Star Finance $9,000 on a quarterly basis, reimburse Star Finance for certain pre-approved expenses, and is granting Star Finance options to purchase 400,000 common shares of the Company at an exercise price of $0.16 per share vesting in stages over a period of twelve months from the date of grant.
About Star Finance GmbH
Star Finance GmbH is a Swiss company owned by Michael Adams, with offices in Steinhausen, Switzerland and Cologne, Germany that specializes in maximizing investor awareness for small- and microcap companies within the German-speaking financial community through the implementation of proactive communication strategies. Michael Adams has 15 years of experience working in the financial communications industry and has established a loyal and extensive network in the German-speaking investment community as well as long standing personal contacts to investment related media channels.
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 Exchange under the symbol “MEK”. Metals Creek has earned a 50% interest in the Ogden Gold Property, including the former Naybob Gold mine, located 6 km south of Timmins, Ontario and has a 8 km strike length of the prolific Porcupine-Destor Fault (P-DF) that stretches between Timmins, Ontario and Val d’Or, Quebec. The Company has also entered into a JV with Benton Resources on Metals Creeks Staghorn Gold Project in Newfoundland. Metals Creek has also made a new gold/silver discovery in the “White Gold District” on the Squid East project in the Yukon and is engaged in the identification, acquisition, exploration and development of other mineral resource properties, and presently has mining interests in Ontario, Yukon and Newfoundland and Labrador. Additional information concerning the Corporation is contained in documents filed by the Corporation with securities regulators, available under its profile at www.sedar.com.
On Behalf Of the Board of Directors
Metals Creek Resources Corp.
Alexander Stares, President and CEO
Telephone: (709)-256-6060
Fax: (709)-256-6061
Email: astares@metalscreek.com
MetalsCreek.com
Twitter.com/MetalsCreekRes
Facebook.com/MetalsCreek
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.