Midland Exploration Announces Closing of a Private Placement
Midland Exploration Announces Closing of a Private Placement
MONTREAL, Dec. 21, 2018 -- Midland Exploration Inc. ( “Midland”) ( TSX-V: MD ) is pleased to announce that it has
completed a private placement by issuing a total of 222,222 units at $0.90 per unit, for gross proceeds of $200,000 (the
“Offering”). Each unit consists of one common share and one half warrant of Midland. Each warrant entitles the holder to
purchase one common share of Midland at a price of $1.25 until December 21, 2020. The securities issued in the Offering are
subject to a four-month hold period expiring on April 22, 2019.
SIDEX, Limited Partnership (“SIDEX”) and the Mining Investment Fund SDBJ (“SDBJ”) participated in the Offering for a total
amount of $200,000, as part of the “Drilling James Bay 2019” program. Midland will use the proceeds of the Offering to fund
drilling on the Mythril property, located in James Bay, Quebec.
As a result of the private placement, 64,303,111 common shares of Midland are 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.
About SIDEX
Created in 2001, SIDEX is an initiative of the Québec government and the Fonds de solidarité FTQ whose mission is to invest
in companies engaged in mineral exploration in Québec in order to diversify the province’s mineral base. SIDEX promotes new
entrepreneurs and innovation in exploration and has invested more than $90 million to date in mineral exploration companies
and their projects in Québec.
About SDBJ
Established in 1971 under the James Bay Region Development Act, SDBJ’s mission is to promote economic development and
the development and exploitation of natural resources in the James Bay territory, other than hydro-electric resources falling
within Hydro-Québec’s mandate, with a view to sustainable development. The SDBJ may generate, support and carry out
projects in the pursuit of those objectives.
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 Agnico Eagle Mines Limited,
Osisko Mining Inc., Altius Minerals Corp., SOQUEM INC., NioBay Metals Inc., Nuvavik 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 Company 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.