Millrock Resources: Early Warning News Release
VANCOUVER, BC--(Marketwired - August 24, 2017) - Millrock Resources Inc. (
On August 24, 2017, the Issuer delivered 1,800,000 common shares (the "Initial Sojourn Shares") to the Shareholder under option agreements dated June 9, 2017, made between the Issuer and the Shareholder (the "Option Agreements"), pursuant to which the Issuer has the right to earn a 100% interest in the Shareholder's Oweegee and Willoughby properties, each located in the "Golden Triangle" east and northeast of the town of Stewart, British Columbia. The Initial Sojourn Shares represent the first tranche of common shares of the Issuer issuable under the Option Agreements.
As a result of the issuance of the Initial Sojourn Shares, the Shareholder holds a total of 1,800,000 common shares of the Issuer as at the close of business on August 24, 2017, representing 12.6% of the current issued and outstanding shares of the Issuer, based on information provided by the Issuer as to its issued and outstanding share capital.
The Shareholder did not act jointly with any other party in acquiring the Initial Sojourn Shares.
Additional common shares of the Issuer will be issuable to the Shareholder if the Issuer chooses to maintain the Option Agreements in good standing. The Initial Sojourn Shares are subject to a four month hold period; thereafter, the Shareholder may sell some or all of the Initial Sojourn Shares but has no present intention to do so.
This news release is being disseminated pursuant to National Instrument 62-103 -- The Early Warning System and Related Take-Over Bid and Insider Reporting Issues ("NI 62-103"). A copy of the report to be filed with Canadian securities regulators in connection with the acquisition of these securities can be obtained upon its filing under the Issuer's profile on the SEDAR website (www.SEDAR.com) or by contacting the Shareholder at (604) 638-3164.
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 active in Alaska, British Columbia, the southwest USA and Sonora State, Mexico. 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: Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, Altius, and Riverside.
ON BEHALF OF THE BOARD
Gregory Beischer, President & CEO
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 completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs.
"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."
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