Midland Exploration (MD-V) Dec 3rd 2014 is pleased to announce that it has completed a private placement by issuing a total of 1,100,430 units at a price of $0.70 per unit and 1,036,683 flow-through shares at $0.85 per share, for total gross proceeds to Midland of $1,651,481 (the "Offering"). The securities issued in the private placement are subject to a four-month hold period expiring on April 4, 2014.
Each unit will be comprised of one common share and one-half of a 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 $0.95 until December 2, 2016.
Midland will use the private placement proceeds to fund its exploration plan and for general corporate purposes.
As a result of the private placement, there are 32,443,625 common shares of Midland issued and outstanding.
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. A finder's fee equal to $28,854 was paid to arm's length third parties of Midland.
Gino Roger, President and Chief Executive Officer
450 420-5977
450 420-5978 (FAX)
info@midlandexploration.com
www.midlandexploration.com |
