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 release.
May 11th, 2015 NEWS RELEASE
Private Placement and Debt Settlement Closing
Vancouver, B.C. – Midasco Capital Corp. (the "Company") (TSX-‐V Symbol: MGC) wishes to announce the closing and regulatory approval of the first tranche its non-‐brokered private placement comprised of 2,200,000 common shares at $0.05 per share for gross proceeds of $110,000.
The proceeds of the first tranche of the private placement will be used to repay certain of immediate financial obligations including agent and professional fees and for corporate and working capital purposes. All securities issued pursuant to the private placement will be subject to a four-‐month hold period until September 12th, 2015. The Company will pay a $1,750 finder's fee to Canaccord Genuity in connection with the above financing.
The Company also wishes to announce that it has received regulatory approval to issue 1,010,805 common shares in settlement of $202,161 of debt to related parties. All securities issued pursuant to the debt settlement agreements will be subject to a four-‐month hold period until September 12th, 2015.
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 “forward-‐looking 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 forward-‐looking 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.
On behalf of the Board, William Pettigrew, President & CEO Phone: 604-‐669-‐2901
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 release.