Melkior Announces $860,000 Financing Lead by Insiders

(TheNewswire)

Melkior Resources Inc

December 16, 2021 - TheNewswire - Timmins, Ontario - Melkior Resources Inc. (“Melkior” or the “Company”) (TSXV:MKR) (OTC:MKRIF) is pleased to announce a non-brokered flow-through private placement (the “Private Placement”) for gross proceeds of C$860,000, subject to final TSX Venture Exchange (the “TSXV”) approval. $640,000 of the financing has been committed by two directors of the Company.

The Private Placement will be flow-through common shares issued at a price of $0.40 per common share, with each such share issued as a “Flow-Through Share” within the meaning of the Income Tax Act (Canada).

Participation by insiders of the Company in the Private Placement will constitute 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 the 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.

Proceeds of the Private Placement will be used to conduct further exploration on the Company’s mineral properties. The Company does not intend to issue finders’ fees on this financing.

All securities issued under the Private Placement will have a hold period of four months and a day from closing.

About Melkior Resources

Melkior Resources is an exploration stage resource company with a strong partner in world-class mining jurisdictions. Melkior’s flagship Carscallen Project is being advanced by Kirkland Lake Gold through a $110M option/joint venture agreement. Melkior under 100% ownership is focused on advancing it’s Val D’Or, White Lake and Maseres Projects. Kirkland Lake Gold currently owns approximately 6% of the Company.

ON BEHALF OF THE BOARD

Jonathon Deluce, CEO

For more information, please contact:

Melkior Resources Inc.

E-mail: [email protected]

Tel: 226-271-5170

The reader is invited to visit Melkior's web site www.melkior.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the

TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Copyright (c) 2021 TheNewswire - All rights reserved.

Disclaimer :: Use of this site is subject to, and your continued use constitutes your express agreement to be bound by, our Legal and Terms of Use. Any commercial use of this site is strictly prohibited. Canadianinsider.com is operated by INK Research Corp (INK). INK provides general information. INK has made all reasonable efforts to ensure that all information provided is accurate at the time of inclusion; however, there may be errors. INK makes no guarantee of accuracy or completeness. All information and opinion expressed herein is subject to change without notice. Read more...Insider information is based on filings made on the System for Electronic Disclosure for Insiders (SEDI®). Data is provided “as is” and by using this site you acknowledge that the information which comprises the data is filed by or on behalf of the SEDI filers or other parties legally required or permitted to do so. Filings may at any time contain errors and by using this site you acknowledge this fact. INK is not an investment advisory service, a financial planner, an investment advisor nor a securities advisor. INK does not purport to tell people, or suggest to people, what they should buy or sell for themselves. Opinions and recommendations contained herein should not be construed as investment advice. Do not assume that any recommendations, insights, charts, theories, or philosophies will ensure profitable investment. Users should always consult with and obtain advice from their professional licensed financial advisor, including their tax advisor, to determine the suitability of any investment. INK recommends that anyone making an investment or trading securities do so with caution. Users should perform full due diligence and investigate any security fully before making an investment or before the execution of a security trade based upon information learned through INK. Investors should obtain annual reports and other company information to complete their own due diligence in any investment. Neither INK nor anyone affiliated with INK is responsible for any investment decision made. INK employees may have an ownership or investment interest in any stock mentioned in this service or on this website. On this site, there may be third party content, content from authors or links to third-party sites or pages, the contents of which are not verified, maintained, controlled or supervised by INK. INK is not responsible for and assumes no liability for the accuracy, completeness or timeliness of any third party content or authored content provided herein or the information or contents of any linked sites or pages. The inclusion of any authored content or link by us does not imply that INK recommends, approves or endorses the authored content or linked site or pages. INK Edge® and INK Research® are registered trade-marks owned by INK Research Corp. SEDI® is a registered trade-mark owned by the Alberta Securities Commission.Read less

Please make the indicated changes including the new text: US quotes snapshot data provided by IEX. Additional price data and company information powered by Twelve Data.

Interactive technical study charts by TradingView. Copyright © 2024 INK Research Corp. All rights reserved. All trade-marks or trade names not owned by INK Research Corp. are the property of their respective owners.