Metals Creek Resources Corp (MEK)

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METALS CREEK GETS EXCHANGE APPROVAL TO OPTION SILVER PROJECT TO QUADRO RESOURCES

Toronto, September 27, 2018. – Metals Creek Resources Corp. (TSX-V: MEK) (“Metals Creek”); Quadro Resources Ltd. (TSX- V: QRO) (“Quadro”), and Benton Resources Inc. (TSX-V: BEX) (“Benton”) are pleased to announce that they have received approval from the TSX Venture Exchange for an option agreement pursuant to which Quadro has acquired the option to earn the one-third interests held by each of MEK and BEX in the jointly staked (33.33% each) Conche Property (see news release dated June 25, 2018) on Newfoundland’s Great Northern Peninsula (the “Option”) (complete details of the option agreement are set out in Metals Creek’s July 9, 2018 news release).

To exercise the Option Quadro is required to issue 1 million shares to each of MEK and BEX over an eighteen month period on the basis of 200,000 shares to each on receipt of regulatory approval for the Option, a further 300,000 shares to each within six months of receipt of regulatory approval and 500,000 shares to each within eighteen months of receiving regulatory approval. Upon exercise of the Option MEK and BEX will each retain a 1% NSR with the Company having the right to purchase 50% of the NSR’s for the payment of $500,000 to each of MEK and BEX.



Read more at:
http://www.metalscreek.com/article/metals-creek-gets-exchange-approval-to-option--3473.asp