Business
Melkior Announces $860,000 Financing Lead by Insiders
(TheNewswire) December 16, 2021 - TheNewswire - Timmins, Onta...
About this update from Melkior Resources Inc.
[{"type":"text","content":"Melkior Announces $860,000 Financing Lead by Insiders\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n December 16, 2021 - TheNewswire -\n \n \n Timmins, Ontario -\n \n Melkior Resources Inc. (“\n \n Melkior\n \n ” or the “\n \n Company\n \n ”) (TSXV:MKR) (OTC:MKRIF) is pleased to announce a\nnon-brokered flow-through private placement (the “Private\nPlacement”) for gross proceeds of C$860,000, subject to final TSX\nVenture Exchange (the “TSXV”) approval. $640,000 of the financing\nhas been committed by two directors of the Company.\n \n \n The Private Placement will be flow-through common shares issued at a\nprice of $0.40 per common share, with each such share issued as a\n“Flow-Through Share” within the meaning of the\n \n Income Tax Act\n \n (Canada).\n \n \n Participation by insiders of the Company in the Private Placement will\nconstitute a related party transaction as defined under Multilateral\nInstrument 61-101, Protection of Minority Security Holders in Special\nTransactions. Because the Company's shares trade only on the TSX-V,\nthe issuance of the securities is exempt from the formal valuation\nrequirements of Section 5.4 of MI 61-101 pursuant to Subsection 5.5(b)\nof MI 61-101 and exempt from the minority approval requirements of\nSection 5.6 of MI 61-101.\n \n \n Proceeds of the Private Placement will be used to conduct further\nexploration on the Company’s mineral properties. The Company does\nnot intend to issue finders’ fees on this financing.\n \n \n All securities issued under the Private Placement will have a hold\nperiod of four months and a day from closing.\n \n \n \n About Melkior Resources\n \n \n \n Melkior Resources is an exploration stage resource company with a\nstrong partner in world-class mining jurisdictions. Melkior’s\nflagship Carscallen Project is being advanced by Kirkland Lake Gold\nthrough a $110M option/joint venture agreement. Melkior under 100%\nownership is focused on advancing it’s Val D’Or, White Lake and\nMaseres Projects. Kirkland Lake Gold currently owns approximately 6%\nof the Company.\n \n \n \n \n ON\nBEHALF OF THE BOARD\n \n \n \n \n Jonathon Deluce, CEO\n \n \n \n For more information, please\ncontact:\n \n \n \n \n Melkior Resources Inc.\n \n \n ...