Millrock Announces Private Placement Financing

http://www.juniorminingnetwork.com/junior-miner-news/press-releases/574-tsx-venture/mro/19341-millrock-announces-private-placement-financing-2.html

Millrock Resources Inc. (TSX VENTURE: MRO) (“Millrock”) announces that it plans to raise gross proceeds of up to $3,509,000 through a non-brokered private placement of up to 12,100,000 units (the “Units”) priced at $0.29 per Unit. Each Unit will consist of one common share and one share purchase warrant (the “Warrants”). Each Warrant will entitle the holder to purchase one additional common share at a price of $0.44 for a term that is approximately the third anniversary of the closing date. Finder’s fees of 6% cash or the equivalent in Units may be paid 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. Millrock intends to use the proceeds for exploration and development of its properties and for general corporate purposes. This financing is subject to receipt of TSX Venture Exchange acceptance.

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