Metals Creek Resources Corp. Increases Non-Brokered Private Placement

Rhea-AI Summary

Metals Creek Resources (OTC:MCREF, TSXV: MEK) increased its non-brokered private placement to up to $2 million, comprising up to 27,272,727 flow-through units at $0.055 and 10,000,000 non-flow-through units at $0.05. Each FT unit includes one flow-through share and one-half warrant; each NFT unit includes one share and one full warrant. Each whole warrant allows purchase of one common share at $0.08 for 24 months. The financing is expected to close on or before July 31, 2026, is subject to TSX Venture Exchange approval, and all securities will carry a four-month hold. Proceeds will fund exploration on Newfoundland hydrogen/helium projects, the Ogden Gold Project, other Newfoundland and Ontario properties, and general working capital.

Positive

• Non-brokered placement increased to up to $2 million in gross proceeds
• 27,272,727 flow-through units at $0.055 target up to $1.5 million
• 10,000,000 non-flow-through units at $0.05 target up to $500,000
• $0.08 warrants with 24-month term attached to all units
• Proceeds directed to Newfoundland hydrogen/helium and Ogden Gold exploration

Negative

• Potential dilution from issuance of up to 37,272,727 new shares plus warrants
• Financing remains subject to TSX Venture Exchange approval before closing
• All new securities subject to a four-month hold period restricting near-term liquidity

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Thunder Bay, Ontario--(Newsfile Corp. - July 14, 2026) - Metals Creek Resources Corp. (TSXV: MEK) (FSE: M1C1) (the "Company" or "Metals Creek") further to its June 30, 2026 news release the Company is pleased to announce that it has increased its non-brokered private placement of both flow-through and non-flow-through units (the "Private Placement") to an aggregate total of up to $2 million. The Company has also adjusted the exercise price of warrants. The Private Placement is expected to close on or before July 31, 2026.

The Company now intends to issue up to 27,272,727 flow-through units at a price of $0.055 per unit (the "FT Units") for aggregate proceeds of up to $1,500,000. Each FT Unit will consist 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 will entitle the holder to purchase one additional non-flow through common share of the Company at an exercise price of $0.08 per common share for a period of 24 months from the date of issue. The FT Shares will entitle the holder to receive the tax benefits applicable to flow-through shares, in accordance with provisions of the Income Tax Act (Canada).

The Company also intends to issue up to 10,000,000 non-flow through units at a price of $0.05 per unit (the "NFT Units") for aggregate proceeds of up to $500,000. Each NFT Unit will consist of one non-flow through common share and one non-flow through common share purchase warrant (the "NFT Warrants"). Each NFT Warrant will entitle the holder to purchase one additional non-flow through common share of the Company at an exercise price of $0.08 per common share for a period of 24 months from the date of issue.

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 approval by the TSX Venture Exchange.

The proceeds raised from the financing will be used for exploration on the Company's Newfoundland Hydrogen/Helium projects, its Ogden Gold Project and for general working capital purposes.

The proceeds raised from the FT Units will be used for exploration on the Company's Newfoundland and Ontario properties including its Ogden Gold Project and will ensure that such Canadian Exploration Expenses qualify as a "flow-through mining expenditure" for purposes of the Income Tax Act (Canada), related to the exploration of the Company's exploration projects.

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 an 8 km strike length of the prolific Porcupine-Destor Fault (P-DF).

Metals Creek has also jointly acquired through staking on a 50/50 basis with Benton Resources, potential natural white hydrogen projects in Newfoundland. The Smoking Gun Prospect was selected after research uncovered highly anomalous helium with values up to 8,900 parts per billion (ppb) in water collected from an historic drill hole. These licenses are located within the Deer Lake Basin, which is thought to be a prospective environment for the presence Helium (He) and Natural (White) Hydrogen (H₂).

At Parson's Pond, research of historical drill logs in two holes 14.2 km apart, have observed C1 methane gas levels reaching 72%. The area is underlain by thrust faulted rocks of the Humber Arm Supergroup. Drill logs indicate unique sedimentary units composed of shales along with sandstones containing fragments of serpentine and chrome. Of particular interest, is the presence of the mineral glauconite, which, combined with these geological indicators, suggests a highly prospective environment for the potential formation of white hydrogen, (natural hydrogen) to form within the basin. The presence of such high concentrations of methane alongside hydrogen indicators suggests a potentially active gas system within the basin. In addition, surface areas have been noted to vent gas within the project boundaries.

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
709-424-1141
Metals Creek Resources Corp
MetalsCreek.com
Twitter.com/MetalsCreekRes
Facebook.com/MetalsCreek

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/305176

FAQ

What did Metals Creek Resources (MCREF) announce about its private placement on July 14, 2026?

Metals Creek Resources increased its non-brokered private placement to up to $2 million. According to Metals Creek, this includes flow-through and non-flow-through units with attached warrants and is expected to close on or before July 31, 2026, subject to TSX Venture Exchange approval.

How many flow-through and non-flow-through units is Metals Creek (MCREF) offering and at what prices?

Metals Creek intends to offer up to 27,272,727 flow-through units at $0.055 and 10,000,000 non-flow-through units at $0.05. According to Metals Creek, this structure targets up to $1.5 million and $500,000 in proceeds, respectively, within the $2 million placement.

What are the warrant terms in the July 2026 Metals Creek (MCREF) private placement?

Each flow-through unit includes half a warrant and each non-flow-through unit one full warrant. According to Metals Creek, every whole warrant allows purchase of one common share at $0.08 for 24 months from issue, potentially adding future equity funding.

How will Metals Creek Resources (MCREF) use the proceeds from the $2 million private placement?

Proceeds will fund exploration and working capital. According to Metals Creek, funds support Newfoundland hydrogen/helium projects, the Ogden Gold Project, and other Newfoundland and Ontario properties, with flow-through proceeds directed to qualifying Canadian Exploration Expenses under the Income Tax Act (Canada).

What are the key conditions and restrictions on the Metals Creek (MCREF) July 2026 financing?

The private placement is subject to TSX Venture Exchange approval and all issued securities carry a four-month hold period. According to Metals Creek, the offering may also involve finder’s fees in cash or securities, as permitted by exchange policies.