Millrock Issues Bonus Shares
VANCOUVER, British Columbia, June 30, 2022 (GLOBE NEWSWIRE) -- Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the “Company”) reports that further to the Company’s news release dated June 21, 2022, the Company has borrowed a total of $500,000 from Redplug Capital Corporation (the "Lender") and issued 2,000,000 common shares as a bonus to the Lender. The shares may not be traded until November 1, 2022.
The proceeds of the loan will be used for general working capital.
Qualified Person
The scientific and technical information disclosed within this document has been prepared, reviewed, and approved by Gregory A. Beischer, President, CEO, and a director of Millrock Resources. Mr. Beischer is a qualified person as defined in NI 43-101.
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 recognized as the premier generative explorer in Alaska, holds royalty interests in British Columbia, Canada, and Sonora State, Mexico, is a significant shareholder of junior explorer ArcWest Exploration Inc., and owns a large shareholding in each of Resolution Minerals Limited and Felix Gold Limited. 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: EMX Royalty, Coeur Explorations, Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, and Altius, as well as junior explorers Resolution, Riverside, PolarX, Felix Gold and Tocvan.
ON BEHALF OF THE BOARD
“Gregory Beischer”
Gregory Beischer, President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
Toll-Free: 877-217-8978 | Local: 604-638-3164
Twitter | Facebook | LinkedIn
Some statements in this news release may contain forward-looking information (within the meaning of Canadian securities legislation) including without limitation the intention of partner companies to complete all the planned drilling they have indicated, the sale of Millrock assets, that Millrock has many catalysts that have potential to drive the Company’s share price higher, that Millrock is closing in on option agreements on other projects that could bring more cash into the company treasury, that potential asset sales will cover longer term needs, that all the drilling programs have a good chance at making gold discoveries, and the possibility of share price increase upon receipt of future drilling results. 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, customary risks of the resource industry and the risk factors identified in Millrock’s management’s discussion and analysis for the three-month period ended March 31, 2022, which is available under Millrock’s profile on SEDAR at www.sedar.com. Forward-looking statements speak only as of the date those statements are made. Except as required by applicable law, Millrock assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward-looking statements. If Millrock updates any forward-looking statement(s), no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.
