Metals Creek Resources Corp. Announces Non-Brokered Financing

Rhea-AI Summary

Metals Creek Resources Corp. (TSXV: MEK) has announced plans for a non-brokered private placement financing to raise up to $200,000. The company will issue up to 10,000,000 common share units at $0.02 per unit. Each unit includes one common share and one warrant, with warrants exercisable at $0.05 per share for 36 months from issuance.

The financing is expected to close by May 29, 2025, subject to TSX Venture Exchange approval. Proceeds will be used for general working capital purposes. The company may pay finder's fees in cash or securities, and all issued securities will have a four-month hold period.

Positive

• Warrant exercise price ($0.05) represents 150% premium to unit price
• 36-month warrant term provides extended financing opportunity

Negative

• Significant dilution with 10 million new units being issued
• Low unit price of $0.02 indicates potential financial distress
• Small financing amount ($200,000) may not be sufficient for long-term operations

Thunder Bay, Ontario--(Newsfile Corp. - April 21, 2025) - Metals Creek Resources Corp. (TSXV: MEK) (FSE: M1C1) (the "Company" or Metals Creek) announces that, subject to approval by the TSX Venture Exchange (the "Exchange"), it intends to complete a non-brokered private placement financing (the "Financing") for proceeds of up to $200,000. The Financing is expected to close on or before 29 May 2025.

The Company intends to issue up to 10,000,000 common share units at a price of $0.02 per unit (the "Units"), with each Unit consisting of one common share of the Company and one common share purchase warrant (the "Warrants"), each 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 36 months from the date of issue. Proceeds from the Financing will be used for general working capital purposes.

In connection with the Financing, the Company may pay finders' fees in cash or securities or a combination of both, as permitted by Exchange policies. All securities issued pursuant to the Financing will be subject to a four-month hold period.

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). The Company also recently completed (See News Release: March 20, 2025) a diamond drilling program at the Tillex Copper Project located in Currie Township, 65 km east of Timmins, Ontario.

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
telephone: (709)-256-6060
fax: (709)-256-6061
MetalsCreek.com
Twitter.com/MetalsCreekRes
Facebook.com/MetalsCreek

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/249284

FAQ

What are the terms of Metals Creek Resources (MCREF) private placement announced in April 2025?

The private placement offers 10,000,000 units at $0.02 per unit, with each unit including one common share and one warrant exercisable at $0.05 for 36 months.

How much money is Metals Creek Resources (MCREF) raising in their 2025 financing?

Metals Creek Resources aims to raise up to $200,000 through their non-brokered private placement financing.

When will Metals Creek Resources (MCREF) 2025 private placement close?

The financing is expected to close on or before May 29, 2025, subject to TSX Venture Exchange approval.

What is the exercise price and duration of the warrants in MCREF's 2025 financing?

The warrants have an exercise price of $0.05 per common share and are valid for a period of 36 months from the date of issue.