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Metals Creek Increase previously announced financing to $3.8M

Mar 10, 2021

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). In addition, Metals Creek has signed an agreement with Newmont Corporation, where Metals Creek can earn a 100% interest in the past producing Dona Lake Gold Project in the Pickle Lake Mining District of Ontario.

Metals Creek Resources Corp. intends to increase the non-brokered flow-through and non-flow-through financing from up to $3.5 million to a new maximum of $3.8 million.

The Financing will now consist of up to 20,666,666 Super flow-through units of the Company ("FT Units"), issuable at $0.15 per FT Unit, for gross proceeds from FT Units of up to $3,100,000. Each FT Unit will consist of one flow-through common share of the Company plus one common share purchase warrant ("Warrant"), each such Warrant entitling the holder to purchase one non-flow-through common share of the Company at an exercise price of $0.165 for 24 months from the date of issuance. The Company expects Crescat to acquire 9,090,909 FT Units. 

The Financing will also now consist of up to 6,363,636 non-flow through units ("NFT Units"), issuable at $0.11 per NFT Unit, for gross proceeds from NFT Units of up to $700,000. Each NFT Unit will consist of one common share of the Company plus one Warrant. 

The Company anticipates closing of the Financing on or around March 15, 2021.

Please refer to the Company's press release dated February 17, 2021 for further details on the Financing.

About Metals Creek Resources Corp.

Metals Creek Resources Corp. is a junior exploration Corporation 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 also has multiple quality projects available for option in Ontario and Newfoundland which can be viewed on the Corporation's website. 

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