Metals Creek Resources Finalizes Private Placement Financing

The latest update is out from Metals Creek Resources ( (TSE:MEK) ).

Metals Creek Resources Corp. has announced the closing of its private placement financing, issuing a total of 6,000,000 flow-through units and 500,000 non-flow-through units, raising gross proceeds of $130,000. The funds will be used for exploration activities on its Newfoundland and Ontario properties, including the Ogden project, with the securities subject to a four-month hold period and pending final approval from the TSX Venture Exchange.

Spark’s Take on TSE:MEK Stock

According to Spark, TipRanks’ AI Analyst, TSE:MEK is a Underperform.

Metals Creek Resources faces significant financial difficulties, with persistent losses and a lack of revenue generation being the primary concerns. While recent corporate developments offer some hope for future growth, the technical and valuation metrics remain unfavorable, resulting in a low overall stock score.

To see Spark’s full report on TSE:MEK stock, click here.

More about Metals Creek Resources

Metals Creek Resources Corp. is a junior exploration company based in Ontario, Canada. It is a reporting issuer in Alberta, British Columbia, and Ontario, with its shares traded under the symbol ‘MEK’ on the TSX Venture Exchange. The company has a 50% interest in the Ogden Gold Property, which includes the former Naybob Gold mine, and holds an 8 km strike length of the Porcupine-Destor Fault.

Average Trading Volume: 323,764

Technical Sentiment Signal: Sell

Current Market Cap: C$4.82M

For an in-depth examination of MEK stock, go to TipRanks’ Overview page.