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Melkior Resources Inc Announces New $600,000 Placement and Closes $170,000 Private Placement


Thursday, 10 Oct 2013 09:29am EDT 

Melkior Resources Inc announced a non-brokered private placement of up to 12,000,000 combined unit A and Unit B for maximum gross proceeds of CAD600,000, subject to the Corporation's right to increase the Offering at its sole discretion. Each unit A is comprised of one flow through common share and of one non flow through common share purchase warrant. Each whole warrant entitles the holder to purchase a common share at a price of CAD0.10 per share for a period of 24 months following the Closing. Each unit B is comprised of one common share and of one common share purchase warrant. Each whole warrant entitles the holder to purchase a common share at a price of CAD0.05 per share for a period of 24 months following the Closing. Each whole warrant entitles the holder to purchase a common share at a price of CAD0.05 per share for a period of 24 months following the Closing. Melkior is also announced that it has completed the closing of its previously announced private placement for aggregate proceeds of $170,000 consisting of the issuance of 3,400,000 units at a price of $0.05 per unit. Each unit is comprised of one common share and one common share purchase warrant. The proceeds of both placements will be for definition drilling for a near surface 43-101 calculation and deep exploration drilling on Melkior's 100% owned Carscallen gold property in Timmins Ontario. 

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