By Devika Patel
Knoxville, Tenn., June 10 - Millrock Resources Inc. said it raised C$1.66 million in an oversubscribed non-brokered private placement of units. The deal priced for up to C$1.5 million on June 1.
The company sold 4,784,000 units of one common share and one warrant at C$0.35 per unit. Each warrant will be exercisable at C$0.50 until June 9, 2012.
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$1,656,900
|
| Units: | 4,784,000
|
| Price: | C$0.35
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | June 9, 2012
|
| Warrant strike price: | C$0.50
|
| Agent: | Non-brokered
|
| Pricing date: | June 1
|
| Settlement date: | June 10
|
| Stock symbol: | TSX Venture: MRO
|
| Stock price: | C$0.41 at close June 1
|
| Market capitalization: | C$17.3 million
|
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