Midnight Sun Closes Oversubscribed C$30,475,575 "Bought Deal" LIFE Offering October 28, 2025 8:47 AM EDT | Source: Midnight Sun Mining Corp. Vancouver, British Columbia--(Newsfile Corp. - October 28, 2025) - Midnight Sun Mining Corp. (TSXV: MMA) (OTCQX: MDNGF) ("Midnight Sun" or the "Company") is pleased to announce that it has closed its previously announced upsized "bought deal" financing (the "Offering") for aggregate gross proceeds of C$30,475,575, including the full exercise of the Underwriters' Option.
The Offering consisted of the issuance and sale of 22,574,500 units of the Company (the "Units") at a price per Unit of C$1.35 (the "Issue Price") on a prospectus-exempt basis pursuant to the "listed issuer financing exemption" under Part 5A of NI 45-106 and Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (together, the "LIFE Exemption").
The Offering was led by Haywood Securities Inc. ("Haywood"), as lead underwriter and sole bookrunner, on its own behalf and on behalf of a syndicate of underwriters including Beacon Securities Limited, Red Cloud Securities Inc., and SCP Resource Finance LP (together with Haywood, the "Underwriters").
Each Unit consists of one common share in the capital of the Company (a "Common Share") and one-half of one common share purchase warrant of the Company (each whole purchase warrant, a "Warrant"). Each Warrant entitles the holder thereof to acquire one common share in the capital of the Company (a "Warrant Share") at a price per Warrant Share of C$2.00 until October 28, 2027.
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