|By Marketwired .||
|June 19, 2014 05:17 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/19/14 -- Millrock Resources Inc. (TSX VENTURE:MRO) reports the non-brokered private placement announced on June 5, 2014 has closed and a total of 20,090,000 units at a price of $0.05 per unit have been issued for gross proceeds of $1,004,500. Each unit consists of one common share of Millrock and one share purchase warrant (the "Warrants"), with each Warrant entitling the holder thereof to purchase one additional common share at a price of $0.10 per share until June 19, 2019.
Proceeds from the financing will be used to generate further projects in Alaska, Mexico and the southwest United States and for general corporate purposes.
Finder's fees of $48,240 and 1,206,000 Finder's Warrants have been paid to Global Market Development LLC. The Finder's Warrants entitle the holder to purchase units at an exercise price of $0.05 until June 19, 2017, the units having the same terms as described above under the private placement terms.
All the securities issued hereunder are subject to a four month hold period and may not be traded until October 20, 2014.
About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. In the search for world-class metallic mineral deposits in mineral-rich Alaska, southwest USA, and Mexico. Millrock identifies, packages and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. Millrock currently has twenty active exploration projects, seven gold-copper properties in Alaska, a porphyry copper prospect in Arizona, a uranium project in New Mexico, and eleven projects in Mexico. Funding for Millrock's exploration projects primarily comes from its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: First Quantum, Teck, Kinross, Vale, Inmet and Altius.
ON BEHALF OF THE BOARD
Gregory Beischer, President & CEO
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Millrock Resources Inc.
Gregory A. Beischer
(604) 638-3164 or Toll Free: (877) 217-8978
(907) 677-3599 (FAX)
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