Metals Creek Closes Second Tranche of Private Placement Financing

Rhea-AI Summary

Metals Creek Resources (TSXV: MEK) has completed the second tranche of its Private Placement Financing, raising $60,000 in gross proceeds. The company issued 2,500,000 flow-through units at $0.02 per unit and 500,000 non-flow-through units, with each unit including share purchase warrants exercisable at $0.05 for 3 years.

The company has requested a 30-day extension from the TSX Venture Exchange to continue the financing until August 11, 2025. Proceeds from the flow-through units will fund exploration activities in Newfoundland and Ontario, particularly focusing on the Ogden project.

Positive

• Successfully raised $60,000 in additional capital through second tranche financing
• Flow-through financing structure provides tax benefits for participating investors
• Proceeds will fund exploration activities across multiple properties in Newfoundland and Ontario

Negative

• Small financing amount of only $60,000 indicates limited funding scope
• Warrant exercise price of $0.05 represents potential future dilution
• Request for 30-day financing extension suggests possible challenges in completing the raise

News Market Reaction

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-4.07% News Effect

On the day this news was published, MCREF declined 4.07%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Thunder Bay, Ontario--(Newsfile Corp. - July 14, 2025) - Metals Creek Resources Corp. (TSXV: MEK) (FSE: M1C1) (the "Company" or Metals Creek) is pleased to announce that, further to its May 27, 2025 and June 25, 2025 news releases, it has closed a second tranche of the its Prive Placement Financing (the "Financing"), issuing 2,500,000 $0.02 flow-through units, ("FT Units"), each FT Unit consisting of 1 flow-through common share and one half (1/2) of a common share purchase warrants, each full warrant being exercisable at $0.05 for 3 years from the date of issue, and 500,000 non-flow-through units ("NFT Units"), each NFT Unit consisting of one common share and one common share purchase warrant, each warrant being exercisable at $0.05 for 3 years from the date of issue, for aggregate gross proceeds of $60,000.

Further, the Company has requested TSX Venture Exchange (the "Exchange") approval to extend the Financing for 30 days, to August 11, 2025.

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 final approval by the TSX Venture Exchange.

The proceeds raised from the FT units will be used for exploration on the company's Newfoundland and Ontario properties, including target generation through prospecting on the company's Ogden project, and the company will ensure that such Canadian exploration expenses qualify as a flow-through mining expenditure for purposes of the Income Tax Act (Canada).

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 from Newmont Corporation, including the former Naybob Gold mine, located 6 km south of Timmins, Ontario and has an 8 km strike length of the prolific Porcupine-Destor Fault (P-DF).

Metals Creek also has multiple quality projects available for option which can be viewed on the Company's website. Parties interested in seeking more information about properties available for option can contact the Company at the number below.

Additional information concerning the Company is contained in documents filed by the Company with securities regulators, available under its profile at www.sedarplus.ca.

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.

Alexander (Sandy) Stares, President and CEO
Metals Creek Resources Corp
709-424-1141
MetalsCreek.com
Twitter.com/MetalsCreekRes
Facebook.com/MetalsCreek

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/258806

FAQ

How much did Metals Creek Resources (TSXV: MEK) raise in its second tranche financing?

Metals Creek raised $60,000 in gross proceeds through the issuance of 2,500,000 flow-through units and 500,000 non-flow-through units.

What are the terms of the warrants in Metals Creek's July 2025 private placement?

The warrants are exercisable at $0.05 per share for a period of 3 years from the date of issue.

How will Metals Creek (TSXV: MEK) use the proceeds from the flow-through units?

The proceeds will be used for exploration on the company's Newfoundland and Ontario properties, with a focus on target generation through prospecting on the Ogden project.

When does Metals Creek's private placement financing extension end?

The company has requested an extension to August 11, 2025, adding 30 days to the financing period.

What is the hold period for securities issued in Metals Creek's private placement?

All securities issued in the private placement are subject to a four-month hold period.