Metals Creek Resources Corp.
TSX VENTURE : MEK

Metals Creek Resources Corp.

September 09, 2008 14:55 ET

Metals Creek Resources Corp. Completes Private Placement

TORONTO, ONTARIO--(Marketwire - Sept. 9, 2008) - Metals Creek Resources Corp. (the "Corporation") (TSX VENTURE:MEK) is pleased to announce that is has completed a private placement for gross proceeds of $565,887 through the sale of 1,174,583 non flow-through units at a price of $0.15 per unit and 2,165,000 flow-through units at a price of $0.18 per unit.

Each non flow-through unit consisted of one common share and one common share purchase warrant, each warrant entitling the holder to acquire one common share of the Corporation at an exercise price of $0.25 for a period of 18 months following the closing date. Each flow-through unit consisted of one common share and one half of one non flow-through common share purchase warrant, each whole warrant entitling the holder to acquire one common share of the Corporation at an exercise price of $0.25 for a period of 18 months following the closing date. All securities issued pursuant to the private placement will be subject to a four month hold period following the closing date.

The Corporation paid a finder's fee to M Partners Inc. in respect of the private placement in the amount of $35,119, being 8% of gross proceeds raised by them. The Corporation also issued 194,800 broker options to M Partners Inc., each option entitling the holder to acquire, at an exercise price of $0.18 for a period of 18 months following the closing date, a unit comprised of one common share and one half of one common share purchase warrant, with each such warrant entitling the holder to purchase one common share for $0.25 for a period of 18 months from the closing date.

About Metals Creek Resources Corp.

Metals Creek Resources Corp. is 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". The Corporation is engaged in the identification, acquisition, exploration and development of mineral resource properties, and presently has mining interests in Ontario and Newfoundland and Labrador. Additional information concerning the Corporation is contained in documents filed by the Corporation with securities regulators, available under the company's profile at www.sedar.com.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Metals Creek Resources Corp.
    Alexander (Sandy) Stares
    President and CEO
    (709) 256-6060
    (709) 256-6061 (FAX)
    Email: astares@metalscreek.com