Business
Millrock Resources Announces C$1 Million Private Placement Financing
VANCOUVER, British Columbia, Jan. 31, 2020 (GLOBE NEWSWIRE) -- Millrock Resources Inc. (TSX-V: MRO) ("Millrock" or the “Company") announces that it plans to rai
About this update from Alaska Energy Metals Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, Jan. 31, 2020 (GLOBE NEWSWIRE) -- Millrock Resources Inc. (TSX-V: MRO) (\"Millrock\" or the “Company\") announces that it plans to raise gross proceeds of $1,000,000 through a non-brokered private placement (the \"Offering\") of 8,333,333 units (the “Units”) at a price of $0.12 per Unit. It is the intention of the Company to provide an opportunity to existing, eligible Millrock shareholders to participate in the Offering. Non-accredited investors will be welcome to participate in the Offering through use of the existing shareholder exemption provided in British Columbia Instrument 45-534 and similar exemptions in other jurisdictions of Canada. Each Unit will consist of one common share of the Company and one share purchase warrant (the “Unit Warrants”). Each Unit Warrant will entitle the holder to purchase one additional common share of the Company at an escalating exercise price as follows: Until December 14, 2020, the Unit Warrants will be exercisable at $0.17 per share; and Thereafter, until December 14, 2021, the Unit Warrants will be exercisable at $0.20 per share. The minimum investment is $5,000. The gross proceeds from the Offering will be used to advance exploration on the Company’s current projects ($200,000), for generation of new projects ($300,000), marketing of projects to funding partners ($100,000) and the remainder for general corporate purposes. Existing Shareholder Exemption In addition to any other exemptions available, participation in the Offering is also open to existing shareholders of Millrock who, as of the close of business on January 29, 2020 (the \"Record Date\"), hold common shares of Millrock (and who continue to hold common shares of Millrock at the time of closing), pursuant to the prospectus exemption set out in B.C. Instrument 45-534 and in similar instruments in other jurisdictions of Canada. This exemption is not available to a shareholder who is a U.S. Person (as defined in Regulation S promulgated under the United States Securities Act of 1933, as amended). Pursuant to a strategic investment agreement previously announced with EMX Royalty Corp., (“EMX”) EMX has the right to participate in the Offering to maintain their current ownership percentage of Millrock shares. Any existing shareholder or other interested investor who wishes to participate in the Of...