Madison Metals Announces Non-Brokered Private Placement
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE
UNITED STATES
Madison Metals Announces Non-Brokered Private Placement
TORONTO, ON – March 12, 2024 – Madison Metals Inc. (“Madison” or the “Company”) (CSE: GREN)
(OTCQB: MMTLF) (FSE: 4EF0) is pleased to announce that it will be proceeding with a private placement
financing consisting of the sale of up to 10,000,000 units (the “ Units”) in the capital of the Company at a
price of CDN$0.35 per Unit for aggregate gross proceeds of a minimum of CDN$1,000,000 and a maximum
of CDN$3,500,000 (the “Offering”).
Each Unit consists of one (1) common share (a “ Common Share ”) and one-half (1/2) common share
purchase warrant (each whole common share purchase warrant, a “Warrant”). Each full Warrant entitles
the holder thereof to purchase one Common Share in the capital of the Company for a price of CDN$0.50
for a period of eighteen (18) months from the date of the closing.
A finder’s fee may be paid in the amount of 6% cash and the issuance of broker warrants equal to 6% of
the Units issued in the Offering, with each broker warrant entitling the holder to acquire one common
share of the Company for a period of eighteen (18) months from the date of issuance at an exercise price
of CDN$0.50 per common share, all in accordance with applicable securities laws and the policies of the
Canadian Securities Exchange.
The Units will be offered for sale to purchasers resident in Canada (except Quebec) and/or other qualifying
jurisdictions pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-
106 Prospectus Exemptions (the “Listed Issuer Financing Exemption”). The securities issued pursuant to
the Offering will not be subject to any statutory hold period in accordance with applicable Canadian
securities laws.
There is an offering document related to the Listed Issuer Financing Exemption that can be accessed under
the Company’s profile at www.sedarplus.ca and on the Company’s website at
https://www.madisonmetals.ca. Prospective investors should read this offering document before
subscribing for any securities issued in connection with the Offering.
Madison has hired Gene McBurney and Michael Wekerle of ECM Capital Advisors Inc., a Bahamian
Corporation, as a strategic advisor in connection with this transaction.
The proceeds from the Offering will be used by the Company primarily to commence drilling activities at
the Khan high-grade uranium discovery in Namibia, for acquisition costs and general working capital.
About Madison Metals Inc.
Madison Metals Inc. (CSE: GREN) (OTCQB: MMTLF) (FSE: 4EF0) is an upstream mining and exploration
company focused on sustainable uranium production in Namibia and Canada. With over 50 years of
mining experience, including 22 years in Namibia, its management team has geological and financial
expertise and a track record of creating shareholder value.
Additional information about Madison Metals Inc. can be found at madisonmetals.ca and on the
Company’s SEDAR+ profile at www.sedarplus.ca.
For further information, please contact:
Duane Parnham
Executive Chairman & CEO
Madison Metals Inc.
+1 (416) 489-0092
Media inquiries:
Adam Bello
Manager, Media & Analyst Relations
Primoris Group Inc.
+1 (416) 489-0092
Neither the Canadian Securities Exchange nor CIRO accepts responsibility for the adequacy or accuracy of
this release.
Forward Looking Statements Caution
This news release contains “forward-looking information” within the meaning of applicable securities laws.
All statements contained herein that are not clearly historical in nature may constitute forward-looking
information. In some cases, forward-looking information can be identified by words or phrases such as
“may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”,
“proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions, and
grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen,
or by discussions of strategy. Forward-looking information contained in this press release includes, but is
not limited to, statements relating to the terms and timing of the private placement described in this press
release and the anticipated uses of the proceeds raised from such private placement.
Where the Company expresses or implies an expectation or belief as to future events or results, such
expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis.
Such assumptions include, without limitation, that: the Company will receive all necessary approval
required in order to complete the issuance of the securities pursuant to the private placement described in
in this press release; and that there will be sufficient interest from potential investors in order to complete
the private placement on the terms as described herein or at all.
However, forward-looking statements are subject to risks, uncertainties, and other factors, which could
cause actual results to differ materially from future results expressed, projected, or implied by such
forward-looking statements. Such risks include, but are not limited to, the risk that the Company will not
be able to proceed with the issuance of units on the terms described in this press release or at all.
Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking
statements contained in this press release are expressly qualified in their entirety by this cautionary
statement. The forward-looking statements contained herein are made as at the date hereof and are
based on the beliefs, estimates, expectations, and opinions of management on such date. The Company
does not undertake any obligation to update publicly or revise any such forward-looking statements or any
forward-looking statements contained in any other documents whether as a result of new information,
future events or otherwise or to explain any material difference between subsequent actual events and
such forward-looking information, except as required under applicable securities law. Readers are
cautioned to consider these and other factors, uncertainties, and potential events carefully and not to put
undue reliance on forward-looking information.