Midland Exploration Completes Successful Private Placement Deal

Midland Exploration Announces Successful Closing of Private Placement

MIDLAND, Canada — Midland Exploration Inc. (TSX-V: MD) is excited to announce its recent successful closing of a significant non-brokered private placement. This strategic move involved issuing a total of 6,123,000 flow-through common shares at a price of $0.40 per share, alongside 625,000 common shares at $0.32 per share, culminating in total gross proceeds amounting to $2,649,200.

Utilization of Proceeds from the Private Placement

The funds generated from this private placement will primarily be directed towards exploration activities on Midland's mineral properties situated in Quebec. In addition to supporting exploration initiatives, the capital will also cater to general corporate purposes within the company, further enhancing its operational capabilities.

Participation of Insiders and Related Party Considerations

Interestingly, insiders participated in this private placement, resulting in the issuance of 540,000 flow-through common shares, contributing total proceeds of $216,000. This involvement is classified as a “related party transaction” in accordance with Regulation 61-101 regarding the Protection of Minority Security Holders in Special Transactions. Nevertheless, the participation is exempt from the formal valuation and approval requirements of this regulation since neither the fair market value of the securities nor the compensation involved exceeded 25% of Midland’s market capitalization.

Impact on Share Structure and Market Activities

Following this private placement, the number of Midland’s common shares issued and outstanding has reached 93,618,758 shares. The completion of this transaction adheres to applicable securities laws and is pending final acceptance by the TSX Venture Exchange. Additionally, Midland paid finder’s fees totaling $103,980 to unrelated third parties for their services related to this private placement.

About Midland Exploration Inc.

Midland Exploration Inc. is committed to exploring and identifying mineral assets in Quebec, aiming to discover world-class deposits rich in gold and critical metals. The company has established robust collaborations with reputable partners that include BHP Canada Inc., Rio Tinto Exploration Canada Inc., Barrick Gold Corp., and many others. Midland strives to work collaboratively and is aiming to finalize new agreements regarding recently acquired properties. With an eye on growth, the management team is also reviewing additional opportunities to expand Midland's portfolio and deliver value to its shareholders.

Gino Roger, President and Chief Executive Officer
Tel: 450 420-5977
Fax: 450 420-5978
E-mail: info@midlandexploration.com
Website: www.midlandexploration.com

Frequently Asked Questions

What is the purpose of Midland's private placement?

The proceeds from the private placement will be utilized to support exploration projects on the company’s Quebec properties and for general corporate expenses.

How much did Midland raise through the private placement?

Midland successfully raised total gross proceeds of $2,649,200 through the issuance of common shares.

Who participated in the private placement?

Insiders of Midland participated, with a total issuance of 540,000 flow-through common shares valued at $216,000.

What regulations apply to this transaction?

This private placement is subject to Regulation 61-101 regarding the Protection of Minority Security Holders in Special Transactions.

What are Midland's future plans after this placement?

Midland aims to enhance its exploration efforts and intends to explore additional opportunities to broaden its portfolio for improved shareholder value.

About Investors Hangout

Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/

Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data shapes the opinions presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. The author does not guarantee the accuracy, completeness, or timeliness of any material, providing it "as is." Information and market conditions may change; past performance is not indicative of future outcomes. If any of the material offered here is inaccurate, please contact us for corrections.