December 18, 2018 / TheNewswire / Timmins, ON – Melkior Resources Inc. (the “Company” or “Melkior”) (TSXV – “MKR”) is pleased to announce that it has arranged for a further non-brokered flow-through private placement (the “Private Placement”). The Private Placement will provide the Company with aggregate gross proceeds of C$400,000, of which C$300,000 will be provided by a director and officer of the Company.
Participation by an insider of the Company in the Private Placement constitutes a related party transaction as defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. Because the Company’s shares trade only on the TSX-V, the issuance of securities is exempt from the formal valuation requirements of Section 5.4 of MI 61-101 pursuant to Subsection 5.5(b) of MI 61-101 and exempt from the minority approval requirements of Section 5.6 of MI 61-101.
The Private Placement will be flow-through common shares issued at a price of $0.085 per common share, with each such share issued as a “Flow-Through Share” within the meaning of the Income Tax Act (Canada).
Proceeds of the Private Placement will be used to conduct further exploration on the Company’s Canadian mineral properties and all securities issued under the Private Placement will have a hold period of four months and a day from closing.
On behalf of the Board of Directors
“Keith James Deluce”
Keith James Deluce, CEO
For further information, please contact:
Melkior Resources Inc.