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Millrock Resources to raise C$3.5M for exploration, general working capital

MillrockResources Inc. said May 4 that it plans to raise up to C$3.5million through a nonbrokered private placement of up to 12.1 million units at29 cents apiece.

Each unit will consist of 1 common share and 1 sharepurchase warrant, exercisable for 1 common Millrock share at 44 cents until thethird anniversary of the financing's closing date.

Millrock plans to use the proceeds for the exploration anddevelopment of its properties and for general working capital.