By Devika Patel
Knoxville, Tenn., Aug. 31 - Millrock Resources Inc. said it has arranged a non-brokered private placement of units to raise up to C$1.5 million.
The company will sell 7.5 million units of one common share and one half-share warrant at C$0.20 per unit.
Each whole warrant will be exercisable at C$0.30 for 18 months.
Proceeds will be used to advance the company's Estelle gold project in Alaska, its Safford Arizona district copper-gold properties, to acquire other gold projects in Alaska and for 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 half-share warrant
|
| Amount: | C$1.5 million
|
| Units: | 7.5 million
|
| Price: | C$0.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 31
|
| Stock symbol: | TSX Venture: MRO
|
| Stock price: | C$0.21 at close Aug. 28
|
| Market capitalization: | C$6.33 million
|
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