Midasco Announces Non-Brokered Private Placement
March 15th, 2017 NEWS RELEASE
Midasco Announces Non-Brokered Private Placement
Vancouver, B.C. – The Company (Midasco Capital Corp. – TSX-V Symbol MGC.H) wishes to announce that it intends to issue up to a maximum of 2,500,000 units (the “Units”) at the price of $0.06 per Unit for gross proceeds of up to $150,000, subject to regulatory approval. Each Unit will be sold on a non-brokered private placement basis and will be offered pursuant to exemptions from registration and prospectus requirements of applicable securities legislation. Each Unit will consist of one common share of the Company and one share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to purchase one common share of the Company at an exercise price of $0.06 per share for a period of three years from the date of closing. It is anticipated that certain insiders of the Company will participate in the offering. All securities issued pursuant to the private placement will be subject to a four-month hold period from the date of closing. The private placement is subject to the acceptance of the TSX Venture Exchange.
Net proceeds from this offering will be used to evaluate new business opportunities in the mineral resource sector and for general working capital. It is not anticipated that the Company will pay any finder's fees in connection with the above financing.
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as “forwardlooking statements”. Forward looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward-looking statements. Any forwardlooking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, except in accordance with the applicable laws.
We seek Safe Harbor.
Contact: William Pettigrew, President Ph: (604) 669-2901
“Neither the TSX Venture Exchange nor its Regulatory Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release”
12216 Boundary Drive North, Surrey, B.C. V3X 1Z5 Phone: (604) 669-2901 Fax: (604) 669-8922 Email:[email protected]