Business
Melkior Announces Sale of Private Company Investment for $1 Million
(TheNewswire) June 8th, 2021 – TheNewswire - Timmi...
About this update from Melkior Resources Inc.
[{"type":"text","content":"Melkior Announces Sale of Private Company Investment for $1 Million\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n June 8th, 2021 –\n \n \n TheNewswire -\n \n \n Timmins, Ontario -\n \n Melkior Resources\nInc. (“\n \n Melkior\n \n ” or the\n“\n \n Company\n \n ”) (TSXV:MKR)\n(OTC:MKRIF) is pleased to announce that it has received $1 million in\ncash for the sale of its investment in IR Battery Resource and\nProcessing Inc (“IR Battery”). The Company before the sale, held\n600,000 shares in IR Battery at a fair value of $300,000 as set out in\nthe Company’s interim financials for its most recent interim period\nended February 28, 2021.\n \n \n \n \n Jonathon Deluce, CEO of Melkior, remarks, “We applaud the IR Battery\nteam for their hard work, which lead to us realizing a $700,000 gain\non our investment and now having approximately $2.4M in our treasury\nwith no debt. With our current treasury and low G&A burn, we are\nwell-positioned to get through this consolidation in the gold price\nand softness in the junior mining market without any financing\ndilution to our shareholders.\n \n \n With this added capital, we are reviewing various potential\nacquisitions ahead of what we believe will be the resumption in the\ngold bull market.”\n \n \n \n \n \n \n \n About Melkior Resources\n \n \n \n Melkior Resources is an exploration stage resource company with strong\npartners in world-class mining jurisdictions. Melkior’s flagship\nCarscallen Project is being advanced by Kirkland Lake Gold through a\n$110M option/joint venture agreement. Melkior’s White Lake Project\nis being advanced by Barrick Gold through a $4M option/joint venture\nagreement. Melkior under 100% ownership is focused on advancing it’s\nVal D’Or and Maseres Projects in Quebec. Kirkland Lake Gold\ncurrently owns approximately 6% of 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 \n \n E-mail:\n \n \n \n [email protected]\n \n \n \n \n \n Tel:\n \n \n 226-271-5170\n \n \n \n \n The reader is invited to visit Melkior's web site\n \n \n \n www.melkior.com.\n \n \n \n \n \n Neither TSX Venture Exchange nor its\nRegu...