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Melkior Resources Inc. Announces Closing of a $465,000 Private Placement
Melkior Resources Inc. Announces Closing of a $465,000 Private Placement Ottawa, Ontario CAN...
About this update from Melkior Resources Inc.
[{"type":"text","content":"\nMelkior Resources Inc. Announces Closing of a $465,000 Private Placement\n\nMelkior Resources Inc. Announces Closing of a $465,000 Private Placement\nOttawa, Ontario CANADA, June 29, 2012 /FSC/ - Melkior Resources Inc.  (MKR - TSX Venture), is pleased to announce that it has completed the closing of private placements for aggregate proceeds of $465,000 consisting of the issuance of 1,550,000 units at a price of $0.20 per unit (\"Unit A\") and 620,000 units at a price of $0.25 per unit (\"Unit B\").\nEach Unit A is comprised of one flow-through common share and one common share purchase warrant. Each Unit A warrant entitles its holder to purchase one additional common share at a price of $0.25 for a period of 12 months following the closing. A subscription of an insider of Melkior in the amount of $50,000 of the Unit A offering has closed in trust pending the satisfactory review by the TSX Venture Exchange of the insider's Personal Information Form.\nEach Unit B is comprised of one flow-through common share and one common share purchase warrant. Each Unit B warrant entitles its holder to purchase one additional common share at a price of $0.30 for a period of 18 months following the closing. If at any time after 4 months and one (1) day after the closing date, the trading price on the TSX Venture Exchange of the common share of Melkior is equal or exceeds $0.35 for a period of 20 consecutive trading days, Melkior shall be entitled to notify the holders of the warrants of its intention to force the exercise of the warrants of the Unit B. Upon receipt of such notice, the holders of the warrants shall have 30 days to exercise the warrants.\nThe securities issued under the private placements are subject to a four (4) month hold period ending October 29, 2012. In conjunction with the private placements, insiders of Melkior have subscribed for aggregate proceeds of $130,000. Melkior paid cash commissions totalling $6,900 in relation to the private placement.\nThe proceeds from the Unit A offering will be used by Melkior to finance exploration expenditures on its properties located in the Province of Ontario and those from the Unit B will be used by Melkior to finance exploration expenditures on its properties located in the Province of Quebec. \nAbout Melkior:\nMelkior is a junior exploration company with active exploration...