Midnight Sun Granted Additional Extension ON Solwezi Licence and Announces Private Placement
Midnight Sun Mining - Corporate Office
#1125 - 595 Howe Street, Vancouver, BC Canada V6C 2T5
Tel: +1 (604) 351-8850 Fax: +1 (778) 379-1434
Email: [email protected]
NOT FOR DISTRIBUTION TO THE UNITED STATES OR FOR DISSEMINATION IN THE UNITED STATES
MIDNIGHT SUN GRANTED ADDITIONAL EXTENSION ON SOLWEZI
LICENCE AND ANNOUNCES PRIVATE PLACEMENT
Vancouver, British Columbia, November 6, 2017 - Midnight Sun Mining Corp. (the
"Company" or "Midnight Sun") (TSX-V: MMA) is pleased to announce it has received official
documentation from the Zambian Ministry of Mines and Mineral Development confirming
the renewal of Exploration Licence 12124-HQ-LEL (“12124”) has been granted.
12124 is valid through December 23 , 2018 with an available renewal for a further three
years. This renewal extends 12124 for one year longer than originally anticipated by
Midnight Sun (see news release dated October 23, 2017).
Private Placement
The Company announce s a non -brokered private placement of up to 7,000,000 units (the
"Units") at a price of $0.30 per Unit for gross proceeds of $2,100,000 (the “Offering”). Each
Unit will consist of one (1) common share ("Common Share") in the capital of the Company
and one ( 1) Common Share purchase warrant (a "Warrant"). Each Warrant will entitle the
holder to purchase one Common Share of the Company for a period of twelve months from
the closing of the Offering at an exercise price of $0.45 . The net proceeds from the Offerin g
will be used by the Company to fund exploration on the Solwezi Group of Licenses as well as
general working capital. The Company intends to close the Offering as soon as practicable.
Brett Richards, Chief Executive Officer of the Company, has committed to participate in the
private placement as the lead order, personally subscribing for $250,000 worth of units.
The Offering, including the future issuance of the Common Shares and Warrants, is subject
to the final approval of the TSX Venture Exchange. All securities issued will be subject to a
hold period of four months and one day pursuant to applicable securities laws.
ON BEHALF OF THE BOARD OF MINIGHT SUN MINING
Brett A. Richards – President & Chief Executive Officer
For Further Information Contact:
Al Fabbro Brett A. Richards
Lead Director Chief Executive Officer
Tel: +1 604-351-8850 Tel: +1 905-449-1500
Midnight Sun Mining - Corporate Office
#1125 - 595 Howe Street, Vancouver, BC Canada V6C 2T5
Tel: +1 (604) 351-8850 Fax: +1 (778) 379-1434
Email: [email protected]
NEITHER THE 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 NEWS RELEASE.
These securities being offered have not been, and will not be, registered under the United
States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered
or sold in the United States or to, or for the benefit of, U.S. persons (as defined in Re gulation
S under the U.S. Securities Act) absent U.S. registration or an applicable exemption from the
U.S. registration requirements. This release does not constitute an offer for sale of securities
in the United States.
This news release includes certain statements that may be deemed "forward -looking
statements." All statements in this release, other than statements of historical facts, the
expected completion of the Offering, and the expected use of proceeds are forward -looking
statements. Although the C ompany believes the expectations expressed in such forward -
looking statements are based on reasonable assumptions, such statements are not
guarantees of future performance and actual results or developments may differ materially
from those in the forward -looking statements. Factors that could cause actual results to
differ materially from those in forward -looking statements include, changes in market
conditions, unsuccessful exploration results, changes in the price of gold, unanticipated
changes in key management personnel and general economic conditions. Mining exploration
and development is an inherently risky business. Accordingly the actual events may differ
materially from those projected in the forward -looking statements. This list is not exhaustive
of the factors that may affect any of the Company's forward -looking statements. These and
other factors should be considered carefully and readers should not place undue reliance on
the Company's forward-looking statements. The Company does not undertake to update any
forward-looking statement that may be made from time to time by the Company or on its
behalf, except in accordance with applicable securities laws.
You can view previous News Releases on the website: www.midnightsunmining.com