VANCOUVER, British Columbia, Sept. 14, 2018 (GLOBE NEWSWIRE) -- Millrock Resources Inc. (“Millrock” or the “Company”) announces that it acquired ownership of and control over 7,823,417 common shares (each, a “Sojourn Share”) in the capital of Sojourn Exploration Inc. (“Sojourn”) of Suite 2300 – 1177 West Hastings Street, Vancouver, British Columbia, V6E 2K3. Sojourn issued 7,823,417 Sojourn Shares to the Company in consideration for the sale by the Company to Sojourn of the Company’s Todd Creek, Willoughby and Oweegee Dome projects (the “Projects”) pursuant to the terms of a mineral property purchase agreement dated August 8, 2018 between the Company and Sojourn. Each of the Sojourn Shares was issued by Sojourn to Millrock at a deemed price of $0.10 for an aggregate deemed price of $782,341.70. Millrock currently owns a total of 9,623,417 shares in the capital of Sojourn, representing 16.12% of the total issued and outstanding common shares in the capital of Sojourn, based on 59,692,212 outstanding common shares. The Company acquired the securities of Sojourn as partial consideration for the sale of the Projects. Depending on market conditions and other factors, the Company may from time to time acquire and/or dispose of securities of Sojourn or continue to hold its current position.
Once filed, a copy of the early warning report filed pursuant to National Instrument 62-103 can be downloaded from Sojourn’s SEDAR profile (www.sedar.com).
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, Kinross, First Quantum, Teck, Vale, Inmet, Altius, and Riverside. Millrock is a major shareholder of junior explorers PolarX Limited and Sojourn Exploration Inc.
ON BEHALF OF THE BOARD
Gregory Beischer, President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
(877) 217-8978 (toll-free)