{"id":7807,"date":"2015-05-12T21:29:00","date_gmt":"2015-05-13T01:29:00","guid":{"rendered":"https:\/\/midlandexploration.com\/2022\/08\/18\/midland-exploration-completes-the-second-tranche-of-a-private-placement-totalling-14-4-million\/"},"modified":"2022-08-19T14:02:47","modified_gmt":"2022-08-19T18:02:47","slug":"midland-exploration-completes-the-second-tranche-of-a-private-placement-totalling-14-4-million","status":"publish","type":"post","link":"https:\/\/midlandexploration.com\/en\/2015\/05\/12\/midland-exploration-completes-the-second-tranche-of-a-private-placement-totalling-14-4-million\/","title":{"rendered":"Midland Exploration completes the second tranche of a private placement totalling $14.4 million"},"content":{"rendered":"\n<h5 class=\"wp-block-heading\"><\/h5>\n\n\n\n<p><\/p>\n\n\n\n<p>Montreal, May 12, 2015. Midland Exploration Inc ( <strong>&#8220;Midland&#8221;) (TSX-V: MD<\/strong> ) is pleased to announce that it has completed a second tranche private placement by issuing a total of 210,000 units at a price of $0.70 per unit for total gross proceeds to Midland of $147,000. The total gross proceeds for this tranche and the one previously closed on May 4, 2015 is $14.4 million.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>The securities issued in the second tranche of the private placement are subject to a four-month hold period expiring on September 13, 2015.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Each unit will be comprised of one common share and one common share purchase warrant. Each whole common share purchase warrant will entitle the holder to purchase one common share of Midland at a price of $1.15 until May 3, 2018. In connection the second tranche, Midland paid finder\u2019s fees of $8,820 and issued 3,000 non-transferable compensation warrants entitling the finders to acquire 3,000 common shares of Midland at a price of $0.70 per share until May 3, 2017.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Midland will use the private placement proceeds to fund its exploration plan and for general corporate purposes.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>As a result of the private placement, 53,259,052 common shares of Midland are issued and outstanding.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>The Offering was carried on a private placement basis pursuant to prospectus exemptions of applicable securities laws and is subject to final acceptance by the TSX Venture Exchange.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><strong>About Midland<\/strong><\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>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<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>For further information, please consult Midland\u2019s website or contact <\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>Gino Roger, President and Chief Executive Officer<\/p>\n\n\n\n<p><br><a href=\"tel:+14504205977\">Tel. : 450 420-5977 <\/a><br>Fax : 450 420-5978 <br>E-mail : <a href=\"mailto:info@midlandexploration.com\" target=\"_blank\" rel=\"noreferrer noopener\">info@midlandexploration.com<\/a><\/p>\n\n\n\n<p>Website : <a href=\"https:\/\/midlandexploration.com\/en\/\" target=\"_blank\" rel=\"noreferrer noopener\">www.explorationmidland.com<\/a><\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>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<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>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&#8217;s periodic reports including the annual report or in the filings made by Midland from time to time with securities regulatory authorities. &#8211;<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h4 class=\"wp-block-heading\">Documents<\/h4>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/midlandexploration.com\/wp-content\/uploads\/2022\/08\/midland-exploration-completes-the-second-tranche-of-a-private-placement-totalling-14.4-million.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Midland Exploration completes the second tranche of a private placement totalling $14.4 million<\/a><\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Montreal, May 12, 2015. Midland Exploration Inc ( &#8220;Midland&#8221;) (TSX-V: MD ) is pleased to announce that it has completed a second tranche private placement by issuing a total of 210,000 units at a price of $0.70 per unit for total gross proceeds to Midland of $147,000. The total gross proceeds for this tranche and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[75],"tags":[],"class_list":["post-7807","post","type-post","status-publish","format-standard","hentry","category-2015-en"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Midland Exploration completes the second tranche of a private placement totalling $14.4 million - Midland<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/midlandexploration.com\/en\/2015\/05\/12\/midland-exploration-completes-the-second-tranche-of-a-private-placement-totalling-14-4-million\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Midland Exploration completes the second tranche of a private placement totalling $14.4 million - Midland\" \/>\n<meta property=\"og:description\" content=\"Montreal, May 12, 2015. Midland Exploration Inc ( &#8220;Midland&#8221;) (TSX-V: MD ) is pleased to announce that it has completed a second tranche private placement by issuing a total of 210,000 units at a price of $0.70 per unit for total gross proceeds to Midland of $147,000. 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