Millrock Closes Non-Brokered Private Placement Financing
MILLROCK RESOURCES INC. | Suite 2300 – 1177 West Hastings St. | Vancouver, BC V6E 2K3
Tel: 604 638 3164 | Fax: 907 677 3599 | www.millrockresources.com
NR: 20-04
MILLROCK CLOSES NON-BROKERED
PRIVATE PLACEMENT FINANCING
VANCOUVER, BRITISH COLUMBIA, February 14, 2020 - Millrock Resources Inc. (TSX-V:
MRO) ("Millrock" or “the Company") reports the non-brokered private placement announced on
January 31, 2020, has been completed and was over-subscribed. A total of 12,575,333 units
(the “Units”) at a price of $0.12 per Unit have been issued for gross proceeds raised of
$1,509,039.96. Each Unit consists of one common share of Millrock and one share purchase
warrant (the “Unit Warrants”). Each Unit Warrant entitles the holder to purchase one additional
common share at an escalating exercise price as follows:
• Until December 14, 2020, the Unit Warrants will be exercisable at $0.17 per share; and
• Thereafter, until December 14, 2021, the Unit Warrants will be exercisable at $0.20 per
share.
Finder’s fees have been paid as follows in connection with financing: $18,900 and 157,500
Finder’s Warrants to RedPlug Inc.; $8,610 and 71,750 Finder’s Warrants to Haywood Securities
Inc.; $17,724 and 147,700 Finder’s Warrants to Canaccord Genuity Corp; $1,680 and 14,000
Finder’s Warrants to Sprott Capital Partners LP. The Finder’s Warrants have the same terms as
the Unit Warrants except that they are non-transferable.
The common shares forming part of the Units, the Unit Warrants and any common shares
issued pursuant to exercise of Unit Warrants or Finder’s Warrants are subject to a hold period
and may not be traded until June 15, 2020.
The net proceeds from the Offering will be used to advance exploration on the Company’s
current projects ($300,000), for generation of new projects ($400,000), marketing of projects to
funding partners ($150,000) and the remainder for general corporate purposes. The financing is
subject to final approval from the TSX Venture Exchange.
About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies,
packages, and operates large-scale projects for joint venture, thereby exposing its shareholders
to the benefits of mineral discovery without the usual financial risk taken on by most exploration
companies. The company is recognized as the premier generative explorer in Alaska, holds
royalty interests in British Columbia, Canada and Sonora State, Mexico and is a significant
shareholder of junior explorer ArcWest Exploration Inc. Funding for drilling at Millrock’s
exploration projects is primarily provided by its joint venture partners. Business partners of
Millrock have included some of the leading names in the mining industry: EMX Royalty,
MILLROCK RESOURCES INC. | Suite 2300 – 1177 West Hastings St. | Vancouver, BC V6E 2K3
Tel: 604 638 3164 | Fax: 907 677 3599 | www.millrockresources.com
Millrock Closes Non-Brokered
Private Placement Financing
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Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, Altius, Riverside, PolarX and
Resolution Minerals.
ON BEHALF OF THE BOARD
“Gregory Beischer”
Gregory Beischer, President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
(604) 638-3164
(877) 217-8978 (toll-free)
Some statements in this news release contain forward-looking information. These statements
address future events and conditions and, as such, involve known and unknown risks,
uncertainties and other factors which may cause the actual results, performance or
achievements to be materially different from any future results, performance or achievements
expressed or implied by the statements. Such factors include without limitation the receipt of
TSX Venture Exchange acceptance.
THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER
TO BUY ANY SECURITIES OF THE COMPANY IN THE UNITED STATES OR IN ANY OTHER JURISDICTION IN
WHICH ANY SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL. THE SECURITIES TO BE
OFFERED UNDER THE OFFERING HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE 1933 ACT
OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO
U.S. PERSONS (AS THAT TERM IS DEFINED IN REGULATION S UNDER THE 1933 ACT) EXCEPT IN
TRANSACTIONS EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE 1933 ACT AND APPLICABLE
STATE SECURITIES LAWS.