Company offers shares, five-year warrants at C$0.05 per unit in deal
By Devika Patel
Knoxville, Tenn., June 19 – Millrock Resources Inc. said it settled a C$1.01 million non-brokered private placement of units with insiders. The deal priced for C$1 million on June 5.
The company sold 20.09 million units of one common share and one warrant at C$0.05 per unit. Each five-year warrant will be exercisable at C$0.10. The strike price is a 25% premium to C$0.08, the June 4 closing share price.
Proceeds will be used to generate further projects in Alaska, Mexico and the southwest United States and for general corporate purposes.
The copper, gold and uranium exploration company is based in Vancouver, B.C.
| Issuer: | Millrock Resources Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1,004,500
|
| Units: | 20.09 million
|
| Price: | C$0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$0.10
|
| Agent: | Non-brokered
|
| Pricing date: | June 5
|
| Settlement date: | June 19
|
| Stock symbol: | TSX Venture: MRO
|
| Stock price: | C$0.08 at close June 4
|
| Market capitalization: | C$6.51 million
|
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