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Melkior
Resources Inc. (TSX VENTURE: MKR) ("Melkior")is pleased
to announce that it has closed a private placement
with Sprott Asset Management Inc., acting as agent,
of 5,000,000 units (the " Units ")
at a price of $0.20 per Unit for gross proceeds of
$1,000,000. Each Unit is comprised of one common
share and one common share purchase warrant. Each
common share purchase warrant shall entitle the holder
thereof to purchase one additional common share at
a price of $0.35 per common share for a period of
24 months following the closing date.
The private
placement is subject to final acceptance by the TSX
Venture Exchange and receipt of any required regulatory
approvals. All securities issued under the private
placement are subject to a four month and one day
hold period ending on October 10, 2008.
The net proceeds
from the Sprott private placement will be used by
Melkior to expand its exploration activity, including
drilling, on the McFauld's East Rim Nickel property
and the West Rim Nickel property. Melkior is awaiting
approval of the acquisition from the TSX Venture
Exchange. The properties are located on two significant
gravity features with associated magnetic anomalies.
The properties cover approximately 2265 claim units
totalling 36240 hectares . For the location of the
properties please refer to the Melkior website www.melkior.com .
Melkior currently has personnel on the properties
in order to plan the upcoming exploration.
This news
release was prepared by Jens E. Hansen , P. Eng,
President Melkior Resources Inc., a Qualified Person
under NI 43-101. |
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