October 28, 2008
Metals Creek Resources Corp. Completes Private Placement With MineralFields Group
Metals Creek Resources Corp. (the "Corporation") (TSX-V: MEK) is pleased to announce it has completed a private placement for gross proceeds of $500,000 through the sale of 3,125,000 flow through units at a price of $0.16 per unit.
Each unit issued in the private placement consisted of one flow through common share and one share purchase warrant, each warrant entitling the holder to acquire one non-flow through common share of the Corporation at an exercise price of $0.25 for a period of 18 months following the issuance date.
In connection with the private placement, the Corporation paid a finder's fee to Limited Market Dealer Inc. in the amount of $25,000, being 5% of gross proceeds. The Corporation also issued 312,500 broker options to Limited Market Dealer Inc., each option entitling the holder to acquire, at an exercise price of $0.16 for a period of 18 months following the closing date, a unit comprised of one common share and 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.
"We are very pleased to be entering into this relationship with MineralFields Group," said Alexander Stares, President and CEO of the Corporation. "This is an important milestone in the growth of Metals Creek Resources Corp. and we look forward to working with MineralFields Group."
About MineralFields, Pathway and First Canadian Securities(R)
MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds. Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities(R), a division of Limited Market Dealer Inc., is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, with investors both within, and outside of MineralFields Group.
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.
Distributed by Filing Services Canada and retransmitted by Marketwire
For further information, please contact: Alexander (Sandy) Stares President and CEO telephone: (709)-256-6060 fax: (709)-256-6061 email: Email Contact
SOURCE: Metals Creek Resources Corp.