Metals Creek Resources Corp. Gets Conditional Approval, Closes First Tranche of Private Placement
Thunder Bay, Ontario–(Newsfile Corp. – April 17, 2026) – Metals Creek Resources Corp. (TSXV: MEK) (FSE: M1C1) (the “Company” or “Metals Creek”) the Company announces that, further to its April 2, 2026 and April 15, 2026 news releases it has received conditional approval from the TSX Venture Exchange (the “Exchange”) for its non-brokered private placement of both non-flow through and flow-through units (the “Financing”) and has closed a first tranche for aggregate gross proceeds of $557,500 on the issuance of 18,350,000 NFT Units and 200,000 FT Units.
The Company intends to issue up to 25,000,000 non-flow through units at a price of $0.03 per unit (the “NFT Units”) for aggregate proceeds of up to $750,000, .each NFT Unit consisting of one non-flow through common share and one non-flow through common share purchase warrant (the “NFT Warrants”). Each NFT Warrant entitles 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.
The Company will also 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 consisting 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 entitles 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).
In connection with the first tranche of the private placement, the Company paid $16,800 in cash finders’ fees as well as issued 560,000 finders’ warrants exercisable at $0.05 per common share for a period of 36 months from the date of issue. 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.
