(TheNewswire)
Timmins, O N - TheNewswire - December 23, 2022 - MelkiorResources Inc. (“ Melkior ”or the “ Company ”)(TSXV:MKR) (OTC:MKRIF) is pleased to announce it has closed anon-brokered flow-through private placement (the “ Private Placement ”) for grossproceeds of C$600,000, subject to final TSX Venture Exchange (the“ TSXV ”) approval.Additionally, the Company announces a non-brokered private placementof up to C$50,000 of hard dollar shares at $0.20 per share expected toclose during January 2023.
The Company issued 2,500,000 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 ”).
The gross proceeds of the Private Placement will be used to conductfurther exploration on the Company’s Ontario mineral properties andwill qualify as “Canadian exploration expenses” and“flow-through critical mineral mining expenditures”, as thoseterms are defined in the Tax Act. The Company issued 175,000finders’ warrants exercisable for a period of 24 months at anexercise price of $0.24 and paid finders’ fees of $42,000 in respectof the Private Placement as permitted by the policies of the TSXV andapplicable securities laws.
All securities issued under the Private Placement, including thefinders’ warrants, will have a hold period of four months and oneday from closing.
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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