Metals Creek Resources Corp. Increases Non-Brokered Private Placement to $1 Million

Rhea-AI Summary

Metals Creek Resources Corp (MCREF) amended a non‑brokered private placement to raise up to $1,000,000 via flow‑through (FT) and non‑flow‑through (NFT) units.

The company intends to issue up to 14,285,714 FT Units at $0.035 (proceeds $500,000) and up to 16,666,667 NFT Units at $0.03 (proceeds $500,000). FT and NFT warrants have 36‑month terms with exercise prices of $0.06 and $0.05, respectively. FT proceeds target exploration on Newfoundland and Ontario properties including the Ogden Gold Project. All securities will have a four‑month hold and the placement is subject to TSX Venture Exchange approval.

AI-generated analysis. Not financial advice.

Positive

• Private placement increased to $1,000,000
• FT proceeds of $500,000 dedicated to exploration in Newfoundland and Ontario
• Long warrant terms: 36 months at low exercise prices ($0.06 and $0.05)

Negative

• Potential immediate issuance of 30,952,381 common shares (units combined)
• Potential additional dilution of 23,809,524 shares if all warrants exercised
• Placement subject to TSX Venture Exchange approval, creating execution uncertainty
• Possible finders' fees in cash or securities reducing net proceeds

News Market Reaction – MCREF

-10.75%

1 alert

-10.75% News Effect

On the day this news was published, MCREF declined 10.75%, reflecting a significant negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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Thunder Bay Ontario--(Newsfile Corp. - April 2, 2026) - Metals Creek Resources Corp. (TSXV: MEK) (FSE: M1C1) (the "Company" or "Metals Creek") the Company has amended the terms to its non-brokered private placement of both non-flow through and flow-through units (the "Private Placement") previously announced April 2, 2026, for an aggregate total funds raised of up to $1 million.

The Company now intends to issue up to 14,285,714 flow-through units at a price of $0.035 per unit (the "FT Units") for aggregate proceeds of up to $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 $0.06 per common share for a period of 36 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 16,666,667 non-flow through units at a price of $0.03 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 $0.05 per common share for a period of 36 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 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 British Columbia, 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 past producing 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
telephone: (709)-256-6060
MetalsCreek.com
Twitter.com/MetalsCreekRes
Facebook.com/MetalsCreek

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/291088

FAQ

How much is Metals Creek (MCREF) raising in the amended private placement on April 2, 2026?

The company intends to raise up to $1,000,000 in aggregate from FT and NFT units. According to the company, proceeds split equally with $500,000 from FT Units and $500,000 from NFT Units.

What are the unit prices and warrant terms for MCREF's April 2, 2026 private placement?

FT Units priced at $0.035 and NFT Units at $0.03 per unit. According to the company, FT warrants exercise at $0.06 and NFT warrants at $0.05 with 36‑month terms.

How will Metals Creek (MCREF) use the flow‑through proceeds from this offering?

FT proceeds will fund exploration on Newfoundland and Ontario properties, including the Ogden Gold Project. According to the company, expenses will qualify as flow‑through mining expenditures under the Income Tax Act.

What dilution could shareholders face from MCREF's amended private placement?

The company may issue up to 30,952,381 unit shares and an additional 23,809,524 shares if all warrants are exercised. According to the company, this represents the maximum potential share increase from the placement.

Are there restrictions or approvals tied to Metals Creek's (MCREF) private placement?

All securities will be subject to a four‑month hold period and the placement requires TSX Venture Exchange approval. According to the company, finder fees may also be payable under exchange policies.