The Prospector News

Midland Exploration Announces Closing of Private Placement

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Midland Exploration Announces Closing of Private Placement

 

 

 

 

 

Midland Exploration Inc. (TSX-V: MD) is pleased to announce that it has completed a closing of a non-brokered private placement with accredited investors as well as with directors and officers of Midland by issuing a total of 1,338,392 flow-through common shares at $1.10 per share, for total gross proceeds of $1,472,231. The securities issued in the private placement are subject to a four-month hold period expiring on April 5, 2020.

 

Midland will use the private placement proceeds to fund exploration works on its properties located in Quebec. 

 

The Insiders’ participation for $174,900 is exempt from the formal valuation and minority shareholder approval requirements provided under Regulation 61-101 respecting Protection of Minority Security Holders in Special Transactions  in accordance with sections 5.5(a) and 5.7(1)(a) of Regulation 61-101. The exemption is based on the fact that neither the fair market value of the private placement, nor the consideration paid by such Insiders exceeds 25% of the market capitalization of the Corporation.

 

As a result of the closing of the private placement, there are 70,216,614 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 Offering, finder’s fees equal to an aggregate amount of $59,257 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, platinum group elements and base metals. Midland is proud to count on reputable partners such as BHP Billiton Canada Inc., Agnico Eagle Mines Limited, Osisko Mining Inc., 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 the Company portfolio and generate shareholder value.

 

Posted December 4, 2019

Share this news article

MORE or "UNCATEGORIZED"


Argonaut Gold Achieves Record Annual Production of 186,615 Gold Equivalent Ounces

Argonaut Gold Inc. (TSX: AR) announces record annual gold equival... READ MORE

January 17, 2020

RADISSON CONTINUES TO INTERSECT HIGH-GRADE GOLD AT DEPTH AND WITHIN THE CURRENT RESOURCE AREA AT O’BRIEN

Radisson Mining Resources Inc. (TSX-V: RDS) (OTC: RMRDF) announce... READ MORE

January 17, 2020

REGULUS REPORTS ADDITIONAL DRILL RESULTS AT THE ANTAKORI COPPER-GOLD PROJECT INCLUDING:

Regulus Resources Inc. (TSX-V:REG) is pleased to announce the res... READ MORE

January 17, 2020

LIBERTY GOLD INTERSECTS 2.92 G/T OXIDE GOLD OVER 55.9 METRES, INCLUDING 5.64 G/T AU OVER 22.1 METRES IN METALLURGICAL CORE DRILLING PROGRAM AT THE BLACK PINE PROJECT, IDAHO, USA

Liberty Gold Corp. (TSX:LGD) is pleased to announce core drilling... READ MORE

January 17, 2020

GFG ANNOUNCES DRILL RESULTS FROM THE RATTLESNAKE HILLS GOLD PROJECT IN WYOMING, US

GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) report assay resul... READ MORE

January 17, 2020

Copyright 2020 The Prospector News - Site design by Spyderbaby Productions