A$5.22 million placement to underpin resource drilling and pre-feasibility work
Significant support from major North American institutions
Substantial shareholder Mr Mark Creasy continues support with a further A$1 million investment
Millrock President & CEO Gregory Beischer commented, For this strategic financing which will be used to acquire several high-potential projects we were approached by a group of financiers that have previously invested in Millrock. While we are cognizant of the dilution this strategic financing will cause, we believe that the property acquisitions that we intend to make with the proceeds of this financing will ultimately pay off for all Millrock shareholders.
First Mining Finance Corp. is pleased to announce that it has signed an option agreement with Exploraciones Mineras Peñoles, S.A. de C.V., an indirect Mexican subsidiary of Industrias Peñoles S.A.B. de C.V. under which Peñoles may acquire First Minings Puertecitos and Los Tamales copper properties located in northern Sonora, Mexico within the prolific Sonora-Arizona, Copper Belt. The region hosts large copper-molybdenum porphyry deposits, such as at the world-class Cananea and La Caridad copper mines. All dollar amounts included in this news release are expressed in U.S. dollars.
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