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Melkior Resources Inc Announces Private Placement Of Up To $750,000


Monday, 9 Sep 2013 02:28pm EDT 

Melkior Resources Inc announced a non-brokered private placement of up to 15,000,000 units at a price of $0.05 per unit for gross proceeds of $750,000. Each unit is comprised of one common share and one common share purchase warrant. Each whole warrant entitles its holder to purchase one additional common share at a price of $0.05 for a period of 12 months following the closing. In connection with the Offering, Melkior may pay a finders' fee of up to 7% of Gross Proceeds payable in cash and 10% in warrants. Each whole warrant entitles the holder to purchase a common share at a price of $0.05 CAD per share for a period of 12 months following the Closing. In accordance with securities legislation in effect in Canada, the Shares, the Warrants and the Warrant Shares will be subject to a hold period of four months plus one day from the date of closing of the private placement. The proceeds from the offering will be used to undertake planned data compilation and exploration work on some or all of Melkior's key properties. On the Launay and Carscallen Timmins gold properties, Melkior plans to complete in-fill drilling programs as well as the preparation/interpretation of a possible resource calculations and NI 43-101 reports. On the Kenty Lake Ungava property, Melkior will engage a geologist to design an exploration program to expand the copper-nickel-PGE resource presently estimated at 800,000 tonnes The Offering is subject to regulatory approval. 

Company Quote

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