Midland Announces Closing of $2.5M Private Placement
MIDLAND ANNOUNCES CLOSING OF $2.5M PRIVATE PLACEMENT
Montreal, December 7 , 20 21. Midland Exploration Inc. ( “Midland”) ( TSX-V: MD ) is pleased to
announce that it has completed a closing of a non -brokered private placement by issuing a total of
2,228,875 flow-through common shares (the “Flow -Through Shares”) at $ 0.80 per share and 760,870
Flow-Through Shares at $0.92 , for total gross proceeds of $ 2,483,100. The securities issued in the
private placement are subject to a four-month hold period expiring on April 8, 2022.
Midland will use the private placement proceeds to fund exploration works on its properties located in
Quebec.
The Insiders’ participation for $189,000 is exempt from the formal valuation and minority shareholder
approval requirements provided under Regulation 61 -101 respecting Protection of Minority Security
Holders in Special Transactions (“Regulation 61-101”) in accordance with sections 5.5(a) and 5.7(1)(a)
of Regulation 61-101. The exemption is based on the fact that neither the fair market value of the private
placement, nor the consideration paid by such Insiders exceeds 25% of the market capitalization of
Midland.
As a result of the closing of the private placement, there are 75,267,797 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 the Offering,
finder’s fees equal to an aggregate amount of $77,250 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 Rio Tinto Exploration Canada Inc., BHP 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 Officer
Tel: 450 420-5977
Fax: 450 420-5978
E-mail: [email protected]
Website: 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.