VANCOUVER, BRITISH COLUMBIA, JUNE 5, 2014 – Millrock Resources Inc. (MRO – TSX:V) announces a non-brokered private placement of 20,000,000 units at a price of $0.05 per unit, totaling gross proceeds of $1,000,000. Each unit will consist 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 for a period of five years.
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 8% cash and 10% finder’s warrants (“Finder’s Warrants”) may become payable in connection with this private placement. The Finder’s Warrants will entitle the holder thereof to purchase units at an exercise price of $0.05 for a period of three years, the units having the same terms as described above.
The financing is subject to approval from the TSX Venture Exchange.
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 and 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 include some of the leading names in the mining industry: First Quantum, Teck and Altius.
FOR FURTHER INFORMATION, PLEASE CONTACT
Gregory A. Beischer, President & CEO
Phone: (604) 638-3164
Toll Free: (877) 217-8978
Millrock Resources Inc.
800 – 789 West Pender Street
Vancouver, BC V6C 1H2
FORWARD LOOKING STATEMENTS
Some statements in this news release contain forward-looking information. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs.
"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."