By Devika Patel
Knoxville, Tenn., June 1 - Millrock Resources Inc. said it plans a non-brokered private placement of units for up to C$1.5 million.
The company will sell 4.3 million units of one common share and one warrant at C$0.35 per unit. Each warrant will be exercisable at C$0.50 for two years.
Proceeds will be used for staking and acquisition of gold projects in Alaska, reconnaissance surveys and claim maintenance costs, marketing to potential partners and general corporate purposes.
Millrock is a mineral exploration company based in Vancouver, B.C.
| Issuer: | Millrock Resources Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.5 million
|
| Units: | 4.3 million
|
| Price: | C$0.35
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.50
|
| Agent: | Non-brokered
|
| Pricing date: | June 1
|
| Stock symbol: | TSX Venture: MRO
|
| Stock price: | C$0.41 at close June 1
|
| Market capitalization: | C$17.8 million
|
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