TORONTO, ONTARIO--(Marketwired - Sept. 2, 2016) - Concept Capital Management Ltd. ("Concept") announces that it acquired for a purchase price of C$520,000, direct ownership of 5,200,000 units (the "Units") of Metals Creek Resources Corp. ("Metals Creek") (TSX VENTURE:MEK), of 945 Cobalt Cres., Thunder Bay, ON P7B 5Z4, at a price of C$0.10 per Unit pursuant to a private placement of Units on August 19, 2016 (the "Private Placement"). Each Unit consists of one common share of Metals Creek and one warrant ("Warrant") to purchase an additional common share of Metals Creek exercisable at a price of C$0.16 per common share for a period of 36 months from the date of issuance.
Immediately prior to the Private Placement, Concept did not own or exercise direction or control over any securities of Metals Creek. Immediately following this transaction, Concept, owned 5,200,000 common shares of Metals Creek, representing 11.46% of the issued and outstanding common shares of Metals Creek, and 5,200,000 Warrants. Assuming the exercise of the Warrants in full, Concept would own 10,400,000 common shares, which would represent 23.1% of the then issued and outstanding common shares of Metals Creek, on a partially‐diluted basis.
The shares were acquired by Concept for investment purposes, and depending on various factors including, without limitation, market and other conditions, increase or decrease his beneficial ownership, control or direction over Shares or other securities of the Issuer, through market transactions, private agreements, treasury issuances, exercises of convertible securities or otherwise.
Concept has also prepared an early warning reporting in accordance with the requirements of National Instrument 62‐103 - The Early Warning System and Related Take‐Over Bid and Insider Reporting Issues that will appear under Metals Creek profile on www.sedar.com and a copy of which may be obtained by contacting Mr. Hoegel, President of Concept, at info@ccm‐ag.com.