The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Millrock Resources Inc. May 4 unveiled plans to raise up to C$3.5 million through a non-brokered private placement of up to 12.1 million units priced at C29 cents apiece.
Each unit will consist of one common share and one purchase warrant.
Each warrant will entitle the holder to purchase one additional common share at C44 cents for a term of three years.
Finder's fees of six percent cash, or the equivalent in units, may be paid in connection with this financing.
Millrock said it intends to use the proceeds for exploration and development of its properties and for general corporate purposes.
Millrock's expanding portfolio of mineral exploration projects include: eight gold, copper and zinc properties in Alaska; three gold-polymetallic projects in northwestern British Columbia; a uranium project in New Mexico; and 15 gold, silver and copper projects in Mexico.
Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.
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