- Metals Creek Resources (MEK) has closed a non-brokered private placement of flow-through units for proceeds of $1,009,140
- The company issued 4,587,000 flow-through units at 22 cents per unit
- Metals Creek Resources is a junior exploration company
- Metals Creek Resources Corp. (MEK) opened trading at C$0.175 per share
Metals Creek Resources (MEK) has closed a non-brokered private placement of flow-through units for proceeds of $1,009,140.
The company issued 4,587,000 flow-through units at 22 cents per unit. Each flow-through unit consists of one flow-through common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one non-flow-through share at a price of $0.30 for 36 months from the date of issuance.
If the company’s common shares trade at or above $0.45 for 60 consecutive trading days, Metals Creek has the option to accelerate the expiration of the warrants.
All securities issued are subject to a four-month and one-day hold period.
No cash finders’ fees or finders’ warrants were paid in connection with this financing.
President and CEO Alexander (Sandy) Stares commented on the financing.
“We are delighted to have Cordillera Minerals 2021 Flow-Through Limited Partnership participate in this financing. Proceeds from this financing will be used to further advance the Companies two flagship properties, the Ogden Gold Project and the Dona Lake Gold Project.”
Metals Creek Resources is a junior exploration company with a 50 per cent interest in the Ogden Gold Property south of Timmins, Ontario and has an 8 km strike length of the prolific Porcupine-Destor Fault (P-DF). Metals Creek has signed an agreement with Newmont Corporation, where Metals Creek can earn a 100 per cent interest in the past producing Dona Lake Gold Project in the Pickle Lake Mining District of Ontario.
Metals Creek Resources Corp. (MEK) opened trading at C$0.175 per share.