The Prospector News

Midland Announces Closing of $2.6M Private Placement

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Midland Announces Closing of $2.6M Private Placement

Midland Exploration Inc. (TSX-V: MD) is pleased to announce that it has completed the closing of a non-brokered private placement by issuing a total of 6,123,000 flow-through common shares at $0.40 per share and 625,000 common shares at $0.32 per share, for total gross proceeds of $2,649,200. The securities issued in connection with the Private Placement are subject to a four-month-and-one-day statutory hold period expiring on April 4, 2025.

Midland will use the Private Placement proceeds to fund exploration works on its properties located in Quebec and for general corporate purposes.

Insiders have participated in the Private Placement and were issued 540,000 flow-through common shares, for total gross proceeds of $216,000. Such participation in the Private Placement is a “related party transaction” as defined in Regulation 61-101 respecting Protection of Minority Security Holders in Special Transactions. Such participation is exempt from the formal valuation and minority shareholder approval requirements of Regulation 61-101 as neither the fair market value of the securities issued to insiders nor the consideration for such securities by insiders exceed 25% of Midland’s market capitalization.

As a result of the closing of the Private Placement, there are 93,618,758 common shares of Midland issued and outstanding.

The Private Placement was carried out pursuant to prospectus exemptions of applicable securities laws and is subject to final acceptance by the TSX Venture Exchange. In connection with the Private Placement, finder’s fees equal to an aggregate amount of $103,980 were paid to arm’s length third parties of Midland.

About Midland 

Midland targets the excellent mineral potential of Quebec to make the discovery of new world-class deposits of gold and critical metals. Midland is proud to count on reputable partners such as BHP Canada Inc., Rio Tinto Exploration Canada Inc., Barrick Gold Corp., Wallbridge Mining Company Ltd, Probe Gold Inc., Agnico Eagle Mines Limited, Electric Elements Mining Corp., SOQUEM Inc., Nunavik Mineral Exploration Fund and Abcourt Mines Inc. Midland prefers to work in partnership and intends to quickly conclude additional agreements in regard to newly acquired properties. Management is currently reviewing other opportunities and projects to build up Midland’s portfolio and generate shareholder value.

Posted December 4, 2024

Share this news article

MORE or "UNCATEGORIZED"


Emerita Intersects 7.2m Grading 1.0% Copper, 4.0% Lead, 7.5% Zinc, 0.13 g/t Gold and 83.32 g/t Silver at La Infanta Deposit; Deep Hole Extends the La Infanta Deposit Limits at Depth

Emerita Resources Corp. (TSX-V: EMO) (OTCQX: EMOTF) (FSE: LLJA) reports results from recent drilling... READ MORE

June 2, 2026

GreenLight Metals Intersects 27.72m of 1.07% Cu and 0.97 g/t Au (2.10% CuEq) including 15.65m of 1.66% Cu and 1.39 g/t Au (3.14% CuEq) at the Bend VMS Deposit in Wisconsin

GreenLight Metals Inc. (TSX-V: GRL) (OTCQB: GRLMF) is pleased to provide an update on the dri... READ MORE

June 2, 2026

Vior Gold Corporation Extends High Grade Mineralization at Depth

VIOR GOLD CORPORATION INC. (TSX-V: VIO) (OTCQB: VIORF) (FRA: VL5) is pleased to announce new results... READ MORE

June 2, 2026

Aya Gold & Silver Reports High-Grade Exploration Drill Results Near Pit Depth at Zgounder

Aya Gold & Silver Inc. (TSX: AYA) (NASDAQ: AYA) is pleased to announce high-grade silver ... READ MORE

June 2, 2026

Emperor Metals Confirms High-Grade Gold Mineralization Highlighted by 35.9 Meters Grading 3.1 g/t Au, Including 24.7 Meters of 4.0 g/t Au

Emperor Metals Inc. (CSE: AUOZ) (OTCQB: EMAUF) (FSE: 9NH) is pleased to report on the progress of i... READ MORE

June 2, 2026

Copyright 2026 The Prospector News