Company offers shares, three-year warrants at C$0.29 per unit in deal
By Devika Patel
Knoxville, Tenn., May 4 – Millrock Resources Inc. said it plans a C$3.51 million non-brokered private placement of units.
The company will sell 12.1 million units of one common share and one warrant at C$0.29 per unit. Each three-year warrant will be exercisable at C$0.44. The strike price is a 46.67% premium to C$0.30, the May 3 closing share price.
Proceeds will be used for exploration and development and 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$3,509,000
|
| Units: | 12.1 million
|
| Price: | C$0.29
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.44
|
| Agent: | Non-brokered
|
| Pricing date: | May 4
|
| Stock symbol: | TSX Venture: MRO
|
| Stock price: | C$0.30 at close May 3
|
| Market capitalization: | C$6.4 million
|
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