{"id":7805,"date":"2015-05-04T20:47:00","date_gmt":"2015-05-05T00:47:00","guid":{"rendered":"https:\/\/midlandexploration.com\/2022\/08\/18\/midland-exploration-completes-a-14-3-million-private-placement\/"},"modified":"2022-08-19T14:06:23","modified_gmt":"2022-08-19T18:06:23","slug":"midland-exploration-completes-a-14-3-million-private-placement","status":"publish","type":"post","link":"https:\/\/midlandexploration.com\/en\/2015\/05\/04\/midland-exploration-completes-a-14-3-million-private-placement\/","title":{"rendered":"Midland Exploration completes a $14.3 Million private placement"},"content":{"rendered":"\n
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Montreal, May 4, 2015. Midland Exploration Inc ( “Midland”) (TSX-V: MD<\/strong> ) is pleased to announce that it has completed a private placement of 20,412,569 units at a price of $0.70 per unit for total gross proceeds to Midland of $14,288,798. Each unit consisted of one common share and one warrant. Each warrant entitles the holder to purchase one common share of Midland at a price of $1.15 until May 3, 2018. The securities issued and issuable in the private placement are subject to a four-month hold period expiring on September 5, 2015.<\/p>\n\n\n\n

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Affiliates of Sprott Private Wealth LP purchased $7,420,000 (10,600,000 Units) in the private placement. Soci\u00e9t\u00e9 de d\u00e9veloppement des entreprises mini\u00e8res et d\u2019exploration II s.e.c. (\u201cSod\u00e9mex\u201d), the Fonds de solidarit\u00e9 FTQ, Sidex, the Fonds r\u00e9gional de solidarit\u00e9 FTQ Abitibi-T\u00e9miscamingue, the Soci\u00e9t\u00e9 de D\u00e9veloppement de la Baie-James et Desjardins Entreprises Capital r\u00e9gional et coop\u00e9ratif also participated in the financing for a total amount of $5,890,000.<\/p>\n\n\n\n

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Midland will use the private placement proceeds to fund its exploration plan and for general corporate purposes.<\/p>\n\n\n\n

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In connection with the private placement, Midland paid finder\u2019s fees of $449,160 and issued non-transferable compensation warrants entitling the finders to acquire 552,000 common shares of Midland at a price of $0.70 per share until May 4, 2017.<\/p>\n\n\n\n

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The placement is subject to final acceptance by the TSX Venture Exchange.<\/p>\n\n\n\n

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As a result of the private placement, 53,049,052 common shares of Midland are issued and outstanding.<\/p>\n\n\n\n

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About Midland<\/strong><\/p>\n\n\n\n

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Midland targets the excellent mineral potential of Quebec to make the discovery of new world-class deposits of gold, PGE, base metals and rare earth elements. Midland is proud to count on reputable partners such as SOQUEM INC., Teck Resources Limited, Agnico Eagle Mines Limited, Sphinx Resources Ltd, Japan Oil, Gas and Metals National Corporation and Maudore Minerals Ltd. 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.<\/p>\n\n\n\n

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This press release was prepared by Gino Roger, registered engineer and Qualified Person as defined by NI 43-101. For further information, please consult Midland\u2019s website or contact <\/p>\n\n\n\n

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Gino Roger, President and Chief Executive Officer<\/p>\n\n\n\n


Tel. : 450 420-5977 <\/a>
Fax : 450 420-5978
E-mail : info@midlandexploration.com<\/a><\/p>\n\n\n\n

Website : www.explorationmidland.com<\/a><\/p>\n\n\n\n

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Neither 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.<\/p>\n\n\n\n

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This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in Midland’s periodic reports including the annual report or in the filings made by Midland from time to time with securities regulatory authorities. –<\/p>\n\n\n\n

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