| Melkior Resources
Inc. ("Melkior")(TSX VENTURE:
MKR), is pleased to announce 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 will be comprised of one common share
and one common share purchase warrant. Each common
share purchase warrant will 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 net
proceeds from the private placement will be used
by Melkior to finance exploration expenditures
on the McFauld's East Rim Nickel and West Rim
Nickel properties, the acquisition of which is in
the process of being completed. The properties cover
approximately 2265 claim units totalling 36240 hectares.
The private placement is subject
to acceptance for filing by the TSX Venture Exchange
and receipt of any required regulatory approvals. |
