METALS CREEK RESOURCES CLOSES SECOND TRANCHE OF OFFERING AND ANNOUNCES INCREASED SIZE OF OFFERING
METALS CREEK RESOURCES CLOSES SECOND TRANCHE OF OFFERING AND
ANNOUNCES INCREASED SIZE OF OFFERING
Toronto, Ontario. October 2, 2015, Metals Creek Resources Corp. (the “Company”)(TSX-V:MEK) is pleased to announce that, further to a new release dated August 13, 2015, it has closed the second tranche of its previously announced non-brokered private placement (the “Offering”) for gross proceeds of $88,000, consisting of 600,000 flow-through units at a price of $0.10 per unit for gross proceeds of $60,000 and 350,000 non flow-through units at a price of $0.08 per unit for gross proceeds of $28,000. The Offering is subject to the final acceptance of the TSX Venture Exchange (the “Exchange”).
Each flow-through unit under the Offering 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 $0.15 during the 24 months from the closing date.
Each non flow-through unit under the Offering 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 $0.15 during the 24 months from the closing date.
All securities issued in the Offering are subject to a four month hold period. In connection with the Offering, the Company issued 20,000 finders warrant having the same terms as the warrants issued under the Offering and paid finders fees and other commission equal to $1,600.
The proceeds of the Offering will be used for exploration on the Ogden Gold Project located in Timmins Ontario, Canada, and to provide general working capital for the Company.
The Company is also pleased to announce that due to increased interest in the Offering, it has applied to the Exchange to increase the size of the Offering for up to an additional 1,500,000 flow-through units for aggregate gross proceeds of up to $150,000. As a result of the Company’s press release dated September 25, 2015, the Company has until October 25, 2015 to complete the Offering.
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. 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 also 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 DirectorsMetals Creek Resources Corp.Alexander Stares, President and CEOTelephone: (709)-256-6060Fax: (709)-256-6061Email: astares@metalscreek.comMetalsCreek.comTwitter.com/MetalsCreekResFacebook.com/MetalsCreekNeither 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.
This press release contains forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, such as costs of sales, general economic conditions, the success of marketing and competition from competing suppliers and businesses. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.