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Metals Creek Resources Closes First Tranche of Private Placement

Sep 14, 2015

Toronto, Ontario. September 14, 2015, Metals Creek Resources Corp. (the “Company”)(TSX-V:MEK) is pleased to announce that, further to a new release dated August 13, 2015, it has closed the first tranche of its previously announced non-brokered private placement (the “Placement”) for gross proceeds of $200,000, consisting of 1,500,000 flow-through units at a price of $0.10 per unit for gross proceeds of $150,000 and 625,000 non flow-through units at a price of $0.08 per unit for gross proceeds of $50,000. The Placement is subject to the final acceptance of the TSX Venture Exchange.
 
Each flow-through unit under the Placement consists of one flow-through common share and one half warrant. Each full warrant will entitle the holder to purchase one additional non flow-through common share of the Company at an exercise price of $0.15 during the 24 months from the closing date.
 
Each non flow-through unit under the Placement consists of one non flow-through common share and one whole warrant. Each warrant will entitle the holder to purchase one additional non flow-through common share of the Company at an exercise price of $0.15 during the 24 months from the closing date.
 
All securities issued in the Placement are subject to a four month hold period. In connection with the Placement, the Company issued 140,000 finders warrant having the same terms as the warrants issued under the Placement and paid finders fees and other commission equal to $23,675.
 
The proceeds of the Placement will be used for exploration on the Ogden Gold Project located in Timmins Ontario, Canada, and to provide general working capital for the Company.

 
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 a 8 km strike length of the prolific Porcupine-Destor Fault (P-DF) that stretches between Timmins, Ontario and Val d’Or, Quebec. Metals Creek has also made a new gold/silver discovery in the “White Gold District” on the Squid East project in the Yukon and is also engaged in the identification, acquisition, exploration and development of other mineral resource properties, and presently has mining interests in Ontario, Yukon and Newfoundland and Labrador. Additional information concerning the Corporation is contained in documents filed by the Corporation with securities regulators, available under its profile at www.sedar.com.
 
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.
 
On Behalf Of the Board of Directors
Metals Creek Resources Corp.
Alexander Stares, President and CEO
Telephone: (709)-256-6060
Fax: (709)-256-6061
Email: astares@metalscreek.com
MetalsCreek.com
Twitter.com/MetalsCreekRes
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Source: http://www.metalscreek.com/article/metals-creek-resources-closes-first-tranche-of-private-placement-383.asp