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Millrock Closes Non-Brokered Private Placement


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VANCOUVER, BRITISH COLUMBIA, December 10, 2015 – Millrock Resources Inc. (TSX-V: MRO) reports that the non-brokered private placement announced on November 20, 2015 and subsequently increased has closed. A total of 8,321,509 Units at a price of $0.16 per Unit have been issued for gross proceeds of $1,331,441.44. Each Unit consists of one common share and one share purchase warrant (the “Warrants”), with each Warrant entitling the holder thereof to purchase one additional common share at a price of $0.22 per common share until December 10, 2016, thereafter at a price of $0.30 per common share until December 10, 2017 and thereafter at a price of $0.40 per common share until December 10, 2019.  

Finder’s fees were paid as follows: $35,000 and 218,250 non-transferable Finder’s Warrants have been paid to Sprott Global Investments Ltd.; $19,880 and 124,250 non-transferable Finder’s Warrants have been paid to Red Plug Capital Corp.; and $224 and 1,400 non-transferable Finder’s Warrants have been paid to Canaccord Genuity Corp. Each Finder’s Warrant entitles the Finder to purchase one additional common share at a price of $0.22 per common share until December 10, 2016, thereafter at a price of $0.30 per common share until December 10, 2017 and thereafter at a price of $0.40 per common share until December 10, 2019.

Common shares issued in connection with this private placement, Warrants, Finder’s Warrants and all common shares issuable upon exercise of Warrants and Finder’s Warrants, are subject to a four month hold period and may not be traded until April 11, 2016.

 

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