Millrock Announces Increase in Non-Brokered Private Placement Financing

http://www.juniorminingnetwork.com/junior-miner-news/press-releases/574-tsx-venture/mro/14307-millrock-announces-increase-in-non-brokered-private-placement-financing.html

Millrock Resources Inc. (TSX VENTURE:MRO) (“Millrock” or the “Company”) reports it has increased the non-brokered private placement announced on November 20, 2015. The financing will now consist of up to 8,125,000 units (the “Units”) at a price of $0.16 per Unit, for gross proceeds of up to $1,300,000. Each Unit shall consist of one common share of Millrock and one share purchase warrant (the “Warrants”). Each Warrant will entitle the holder thereof to purchase one additional common share at a price of $0.22 per common share until and including the date which is one year from the closing date, thereafter at a price of $0.30 per common share until and including the date which is two years from the closing date and thereafter at a price of $0.40 per common share until and including the date which is four years from the closing date. Millrock expects to pay finder’s fees in connection with this financing. The securities issued under this financing will be subject to a hold period of four months from the closing date.

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