CALGARY, ALBERTA -- (Marketwired) -- 07/05/13 -- MILL CITY GOLD CORP. ("Mill City" and/or the "Company") (TSX VENTURE: MC)(OTCBB: MCYGD)(FRANKFURT: NJ6) has amended the terms of a private placement announced in a news release on June 13, 2013. The Company is now undertaking a non-brokered private placement financing of up to ten million units at a price of $0.02 per unit for gross proceeds of $200,000. Each unit consists of one common share (a "Share") and one common transferable share purchase warrant (a "Warrant"). Each Warrant entitles the holder thereof to purchase one additional Share for a period of 5 years, exercisable at a price of $0.05 per Share for the first year and $0.10 per Share for each of the remaining four years.
The proposed private placement is subject to TSX Venture Exchange ("TSX-V") acceptance, including TSX-V bulletins dated Aug. 17, 2012, December 12, 2012 and April 12, 2013 respectively, private placements - temporary relief from certain pricing requirements. All securities issued under the private placement will be subject to a four-month hold period from the closing date.
The proceeds from the private placement will be used toward payment of outstanding payables, general and administrative expenses and to maintain Mill City's properties.
ON BEHALF OF THE BOARD OF DIRECTORS
James R. Brown, Chairman, President & CEO
Neither the 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.
Mill City Gold Corp.
James R. Brown
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OCTOBER 31, 2014
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