Quinton Hennigh Metals Creek Resources Corp (2) (C-MEK) - News Release
Metals Creek arranges $3.5-million financing
2021-02-17 11:43 ET - News Release
Shares issued 100,991,468
MEK Close 2021-02-16 C$ 0.155
Mr. Alexander Stares reports
METALS CREEK ANNOUNCES $3.5 MILLION FINANCING
Metals Creek Resources Corp. has arranged a non-brokered flow-through and non-flow-through financing of up to $3.5 million. The Company anticipates that Crescat Capital LLC ("Crescat") will make a strategic investment in the Company, representing a 7.15 %-per-cent ownership of the Company on a non-diluted bases and a 14.3 % ownership on a partially-diluted basis after the Financing. The Company anticipates it will also enter into an agreement with Crescat granting an option to participate in future financings to maintain its pro rata interest in the Company, until such time as Crescat holds less than 3% of the issued and outstanding shares of Metals Creek.
"Crescat is taking an activist approach to investing in the precious metals mining industry today. Our goal at this stage of the cycle is to identify and invest in a portfolio of potentially big, high-grade discoveries in the hands of undervalued juniors where we can help unlock value. We are excited about Metals Creek and the discovery potential of its Ogden and Dona Lake assets," remarked Kevin Smith, Crescat's founder and chief investment officer.