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Melkior Resources Announces $1.5M Non-Brokered Private Placement
Highlights: Non-brokered private placement to raise up to $1,500,000 to fund exploration and corporate purposes, including an up to 5,000-metre drill program at
About this update from Melkior Resources Inc.
[{"type":"text","content":"Highlights: Non-brokered private placement to raise up to $1,500,000 to fund exploration and corporate purposes, including an up to 5,000-metre drill program at the Carscallen Project. The drill program will follow up on high-grade gold intercept from MKR-24-002: 77.4 g/t Au over 6.9 metres, including 445 g/t Au over 1.2 metres. The Company currently has working capital of $1.1 million. The Carscallen Project is located in the West Timmins Gold Camp, an area gaining renewed interest following recent M & A activity. Timmins, Ontario – May 12, 2025 — TheNewswire - Melkior Resources Inc. (“Melkior” or the “Company”) (TSXV:MKR) (OTC:MKRIF) is pleased to announce that it intends to complete non-brokered private placements to raise gross proceeds of up to $1,500,000 through the issuance of up to (i) 3,600,000 units of the Company (the “Units”) at a price of $0.15 per Unit for gross proceeds of up to $540,000 (the “Hard Dollar Offering”), and (ii) 5,818,182 flow-through common shares (the “FT Shares”) at a price of $0.1625 per FT Share for gross proceeds of up to $960,000 (the “FT Offering”) (together, the “Offering”). With respect to the Hard Dollar Offering, each Unit will consist of one common share in the capital of the Company (a “Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to acquire one additional Share (a “Warrant Share”) at a price of $0.22 per Warrant Share for a period of two (2) years from the date of issuance. With respect to the FT Offering, the FT Shares qualify as “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act”), and as defined in section 359.1 of the Quebec Tax Act with respect to proposed purchasers in Quebec. The gross proceed from the Offering of the FT Shares will be used to incur “Canadian exploration expenses” that are “flow-through mining expenditures” (as such terms are defined in the Tax Act) related to the Company’s mineral properties. Gross proceeds from the Hard Dollar Offering will be used for general and administrative expenses and working capital. The Company may pay a finder’s fee in connection with the Offering to eligible arm’s length finders in accordance with the policies of the TSX Venture Exchange (the “Exchange”). All...