MKR:CC - Melkior Announces Closing of Oversubscribed Non-Brokered Private Placement
(TheNewswire)
Timmins, Ontario – TheNewswire - June 13, 2025 — Melkior Resources Inc. (“ Melkior ” or the“ Company ”) (TSXV:MKR) (OTC:MKRIF) is pleased to announce that,further to its news release dated May 12, 2025, it has closed itsoversubscribed non-brokered private placements raising total grossproceeds of $1,699,999.08 through the issuance of (i) 4,175,993 units of the Company (the“ Units ”) at a price of $0.15 per Unit forgross proceeds of $ 626,398.95 (the “ Hard DollarOffering ”), and (ii) 6,606,770 flow-through common shares(the “ FT Shares ”) at a price of $0.1625 per FT Share for gross proceeds of$ 1,073,600.13 (the“ FT Offering ”) (together, the “ Offering ”).
With respect to the Hard Dollar Offering, each Unitwill consist of one common share in the capital of the Company (a“ Share ”) and one-half of one common share purchase warrant (eachwhole warrant, a “ Warrant ”). Each Warrant will entitle theholder thereof to acquire one additional Share (a “ Warrant Share ”) ata price of $0.22 per Warrant Share for a period of two (2) years fromthe date of issuance (the “ Expiry Date ”).
With respect to the FT Offering, the FT Shares qualifyas “flow-through shares” within the meaning of subsection 66(15)of the Income Tax Act (Canada) (the “ Tax Act ”), and as defined in section 359.1 of the QuebecTax Act with respect to proposed purchasers in Quebec.
The gross proceed from the Offering of the FT Shareswill be used to incur “Canadian exploration expenses” that are“flow-through mining expenditures” (as such terms are defined inthe Tax Act) related to the Company’s mineral properties. Grossproceeds from the Hard Dollar Offering will be used for general andadministrative expenses and working capital.
The Company paid finder’s fees of $76,470.51 cash and408,434 finder’s warrants (the “ Finder’s Warrants ”) to arm’s length finders in accordance with thepolicies of the TSX Venture Exchange (the “ Exchange ”). TheFinder’s Warrants are non-transferable and exercisable at $0.22 perShare until the Expiry Date.
All securities issued in connection with the Offeringare subject to a four-month statutory hold period following closingand the Exchange Hold Period expiring on October 13, 2025.
Norman Farrell, a director of the Company, purchased300,000 FT Shares in the FT Offering. The participation by Mr. Farrellin the FT Offering constituted a “related party transaction” asdefined under Multilateral Instrument 61-101 – Protection ofMinority Security Holders in Special Transactions.
The Offering remains subject to the final approval ofthe Exchange.
The securities issued pursuant to the Offering havenot, nor will they be registered under the United States SecuritiesAct of 1933, as amended, and may not be offered or sold within theUnited States or to, or for the account or benefit of, U.S. persons inthe absence of U.S. registration or an applicable exemption from theU.S. registration requirements. This news release shall not constitutean offer to sell or the solicitation of an offer to buy nor shallthere be any sale of the securities in the United States or in anyother jurisdiction in which such offer, solicitation or sale would beunlawful.
About Melkior Resources
Melkior Resources Inc. is an exploration-stage resourcecompany operating in world-class mining jurisdictions across Quebecand Ontario. The company is dedicated to advancing a portfolio ofhigh-potential mineral properties with a primary focus on goldexploration.
Melkior’s flagship projects include the CarscallenProject, the Beschefer East Project, the Genex Project and theVal-d’Or Project. These projects are strategically located in theAbitibi Greenstone Belt, known for hosting significant gold and basemetal deposits.
ONBEHALF OF THE BOARD
Keith James Deluce, Director
For more information, pleasecontact:
Melkior Resources Inc.
E-mail: info@melkior.com
Tel: 226-271-5170
The reader is invited to visit Melkior's web site www.melkior.com.
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.
Forward-looking statement:
This news release contains certainstatements, which may constitute “forward-looking information”within the meaning of applicable securities laws. Forward-lookinginformation involves statements that are not based on historicalinformation but rather relate to future operations, strategies,financing plans, financial results or other technical developments orreports on the Company’s properties or otherwise. Forward-lookinginformation is necessarily based upon estimates and assumptions, whichare inherently subject to significant business, economic andcompetitive uncertainties and contingencies, many of which are beyondthe Company’s control and many of which, regarding future businessdecisions, are subject to change. These uncertainties andcontingencies can affect actual results and could cause actual resultsto differ materially from those expressed in any forward-lookingstatements made by or on the Company’s behalf. Although the Companyhas attempted to identify important factors that could cause actualactions, events or results to differ materially from those describedin forward-looking information, there may be other factors that causeactions, events or results to differ from those anticipated, estimatedor intended. All factors should be considered carefully, and readersshould not place undue reliance on the Company’s forward-lookinginformation. Generally, forward-looking information can be identifiedby the use of forward-looking terminology such as “expects,”“estimates,” “anticipates,” or variations of such words andphrases (including negative and grammatical variations) or statementsthat certain actions, events or results “may,” “could,” or“might” occur. Mineral exploration and development are highlyspeculative and are characterized by a number of significant inherentrisks, which may result in the inability of the Company tosuccessfully develop current or proposed projects for commercial,technical, political, regulatory or financial reasons, or ifsuccessfully developed, may not remain economically viable for theirmine life owing to any of the foregoing reasons, among others. Thereis no assurance that the Company will be successful in achievingcommercial mineral production and the likelihood of success must beconsidered in light of the stage of operations.
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