(TheNewswire)
Timmins, Ontario – TheNewswire - June 27, 2023 - Melkior ResourcesInc. (“ Melkior ” or the“ Company ”) (TSXV:MKR)(OTC:MKRIF) is pleased to announce it has closed the final tranche ofa non-brokered flow-through and non-flow-through private placement(the “ Private Placement ”)for gross proceeds of C$144,000, subject to final TSX Venture Exchange(the “ TSXV ”) approval. TheCompany raised a total of $803,266 with this final closing combinedwith the first tranche of $659,266 that closed on June 12, 2023,resulting in the issuance of 2,663,609 flow-through common shares and100,000 non-flow-through common shares.
The Company issued 600,000 common shares at a price of $0.24 percommon share, with each such share issued as a “flow-throughshare” within the meaning of the Income Tax Act (Canada)(the “ Tax Act ”).
Jonathon Deluce, CEO of Melkior, remarks, “We appreciate thecontinued support from our current and new shareholders, whichpositions the Company well for 2023/2024 with over $2.7 million inworking capital and only 31.1 million shares outstanding. We lookforward to continuing our work at Genex, the summer field program atBeschefer East, updates from our partnership at Carscallen, andpotential property acquisitions.”
Proceeds of the Private Placement will be used to conduct furtherexploration on the Company’s mineral properties. The Company issued42,000 finders’ warrants exercisable for a period of 24 months at anexercise price of $0.24 and paid finders’ fees of $10,080 in respectof the Private Placement as permitted by the policies of the TSXV andapplicable securities laws.
All securities issued under the Private Placement will have a holdperiod of four months and a day from closing.
About Melkior Resources
Melkior Resources is an exploration stage resource company inworld-class mining jurisdictions with a strong partner. Melkior’sflagship Carscallen Project is being advanced by Agnico Eagle MinesLimited through an option agreement pursuant to which Agnico Eagle hasthe option (but not the obligation) to acquire up to a 75% interest tothe Carscallen Project by spending $110 million on the CarscallenProject over a 10-year period. See the Company’s news release datedSeptember 28, 2020 for more information. Melkior, under 100%ownership, is focused on advancing its Genex, Val D’Or, White Lakeand Maseres Projects. Agnico Eagle also owns approximately 6% of theissued and outstanding common shares of Company.
ONBEHALF OF THE BOARD
Jonathon Deluce, CEO
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) acceptsresponsibility for the adequacy or accuracy of this release.
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