Midland Completes the Second Tranche of a Private Placement Totalling $2.7M
December 21 2021 - 5:30PM
Midland Exploration Inc. (
“Midland”)
(
TSX-V: MD) is pleased to announce that it has
completed a second tranche of the non brokered private placement
previously announced on December 7, 2021 (the “Private Placement”)
by issuing 230,000 flow-through common shares (the “Flow-Through
Shares”) at $0.80 per Flow-Through Share for gross proceeds of
$184,000. The total gross proceeds of the Private Placement is
$2,667,100. The securities issued in the second tranche of the
Private Placement are subject to a four-month hold period expiring
on April 22, 2022.
Midland will use the Private Placement proceeds
to fund exploration works on its properties located in Quebec.
As a result of the closing of the Private
Placement, there are 75,497,797 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 this second tranche of the Private Placement,
finder’s fees equal to an aggregate amount of $7,680 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
Canada Inc., Rio Tinto Exploration Canada Inc., Probe Metals Inc.,
Wallbridge Mining Company Ltd, Agnico Eagle Mines Limited, Osisko
Development Corp., 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 Corporation portfolio
and generate shareholder value.
Gino Roger, President and Chief Executive
OfficerTel: 450 420-5977Fax: 450 420-5978E-mail:
info@midlandexploration.comWebsite: www.midlandexploration.com
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.
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.
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