Metals Creek Resources Corp. Files with the TSXV, Closes First Tranche of Private Placement

Core Viewpoint - Metals Creek Resources Corp. has received conditional approval from the TSX Venture Exchange for a non-brokered private placement aimed at raising up to $1,000,000 through the issuance of flow-through and non-flow-through units [1][4]. Financing Details - The company plans to issue up to 12,500,000 flow-through units at a price of $0.04 per unit and up to 14,285,714 non-flow-through units at a price of $0.035 per unit, totaling up to $1,000,000 in proceeds [2]. - Each flow-through unit consists of one flow-through common share and one-half of a non-flow-through common share purchase warrant, with the whole warrant allowing the purchase of one additional common share at an exercise price of $0.06 for 24 months [2]. - Each non-flow-through unit consists of one non-flow-through common share and one non-flow-through common share purchase warrant, with the warrant allowing the purchase of one additional common share at an exercise price of $0.06 for 60 months [2]. Financing Progress - The company has closed the first tranche of the financing, issuing 7,500,000 non-flow-through units and 8,625,000 flow-through units, resulting in gross proceeds of $607,500 [3]. Use of Proceeds - Proceeds from the flow-through units will be allocated for exploration on the company's properties in Newfoundland and Ontario, including the Ogden Gold Project, ensuring that these expenses qualify as "flow-through mining expenditures" under the Income Tax Act (Canada) [5]. Company Overview - Metals Creek Resources Corp. is a junior exploration company incorporated in British Columbia, listed on the TSX Venture Exchange under the symbol "MEK" [6]. - The company holds a 50% interest in the Ogden Gold Property, which includes the past-producing Naybob Gold mine, located 6 km south of Timmins, Ontario [7].