-- Posted Tuesday, 8 November 2011 | | Disqus
MONTREAL, QUEBEC--(Marketwire -11/08/11)- Midland Exploration Inc. ("Midland")(TSX-V: MD.V, MIDLF.PK) is pleased to announce that it has negotiated a private placement with an institutional investor, consisting of 500,000 flow-through common shares at a price of $2.00 per share. No finder's fees or commissions are to be paid in conjunction with the placement and no warrants are to be issued.
Proceeds from the offering will be used to fund exploration work on Midland's numerous projects in Quebec.
Closing of the proposed private placement is conditional upon preparation of standard documentation and regulatory approval, including that of the TSX Venture Exchange. Closing is expected to take place on or about November 17, 2011. Under applicable securities legislation, the securities to be issued in the proposed private placement will be subject to a four-month hold period.
There are currently 25,226,079 common shares of Midland issued and outstanding.
About Midland Exploration
Midland targets the excellent mineral potential and the favourable investment climate of Quebec to make the discovery of new world-class deposits of gold, base metals and rare earth elements. Midland is proud to count on reputable partners such as North American Palladium Limited, Agnico-Eagle Mines Limited, Osisko Mining Corporation, Aurizon Mines Limited, Japan Oil, Gas and Metals National Corporation and SOQUEM Inc. Midland prefers to work in partnership and intends to quickly conclude additional agreements in regard to newly acquired properties. Midland is currently evaluating new opportunities and other projects in order to increase the portfolio of the Company.
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.
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.
Contact:
Gino Roger
President and Chief Executive Officer
450 420-5977
450 420-5978 (FAX)
info@midlandexploration.com
www.midlandexploration.com
-- Posted Tuesday, 8 November 2011 | Digg This Article
| Source: GoldSeek.com
