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    MD   CA59751U1003

MIDLAND EXPLORATION INC.

(MD)
Delayed Bourse de Toronto  -  03:32:00 2023-01-27 pm EST
0.5100 CAD   -8.93%
01/26Midland Exploration Up 17% as Says Galinee Project Shows "Excellent" Lithium Potential
MT
01/26Midland Exploration Brief: Up 25% Early Thursday As Completes Assessment of the "Excellent" Lithium Potential on Galinee Near Winsome's Adina New Discovery
MT
01/26Midland Completes Assessment of the Excellent Lithium Potential on Galinée Near Winsome's Adina New Discovery
GL
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Midland Completes the Second Tranche of a Private Placement Totalling $3.5M

12/01/2022 | 05:54pm EST

MONTREAL, Dec. 01, 2022 (GLOBE NEWSWIRE) -- Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to announce that it has completed a second tranche of the non brokered private placement previously announced on November 17, 2022 (the “Private Placement”) by issuing 1,450,000 common shares at $0.40 per common share, 110,000 flow-through common shares (the “Flow-Through Shares”) at $0.50 per Flow-Through Share and 696,970 Flow-Through Shares at $0.70 per Flow-Through shares, for total gross proceeds of $1,122,879. The total gross proceeds of the Private Placement are $3,484,880. The securities issued in the second tranche of the Private Placement are subject to a four-month hold period expiring on April 2, 2023.

SIDEX Limited Partnership and Capital régional and coopératif Desjardins managed by Desjardins Capital participated in the financing for a total amount of $580,000.

Midland will use the Private Placement proceeds to fund exploration works on its properties located in Quebec and for general corporate purposes.

As a result of the closing of the second tranche of the Private Placement, there are 82,420,197 common shares of Midland issued and outstanding.

An insider has subscribed securities for $25,000 in the second tranche of the private placement; such subscription 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.

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 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 BHP Canada Inc., Rio Tinto Exploration Canada Inc., Probe Metals Inc., Wallbridge Mining Company Ltd, Agnico Eagle Mines Limited, Osisko Development Corp., SOQUEM Inc., Brunswick Exploration 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: info@midlandexploration.com
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.

 


All news about MIDLAND EXPLORATION INC.
01/26Midland Exploration Up 17% as Says Galinee Project Shows "Excellent" Lithium Potential
MT
01/26Midland Exploration Brief: Up 25% Early Thursday As Completes ..
MT
01/26Midland Completes Assessment of the Excellent Lithium Potential on Galinée Near Winsome..
GL
01/26Midland Exploration Inc. Completes Assessment of the Excellent Lithium Potential on Gal..
CI
01/26Midland Completes Assessment of the Excellent Lithium Potential on Galinée Near Winsome..
GL
01/23Midland Completes the Third Tranche of a Private Placement Totalling $3.6M
GL
01/23Midland Completes the Third Tranche of a Private Placement Totalling $3.6M
AQ
01/23Midland Exploration Inc. announced that it has received CAD 3.62728 million in funding ..
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01/19Midland Exploration Provides 2023 Exploration Overview
MT
01/19Midland Provides an Overview of its 2023 Exploration Activities with its Partners and t..
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More news
Financials
Sales 2022 0,21 M 0,16 M 0,16 M
Net income 2022 -1,90 M -1,43 M -1,43 M
Net cash 2022 6,33 M 4,75 M 4,75 M
P/E ratio 2022 -16,8x
Yield 2022 -
Capitalization 42,2 M 31,7 M 31,7 M
EV / Sales 2021 189x
EV / Sales 2022 123x
Nbr of Employees -
Free-Float 92,9%
Chart MIDLAND EXPLORATION INC.
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Midland Exploration Inc. Technical Analysis Chart | MarketScreener
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Income Statement Evolution
Managers and Directors
Gino Roger Director
Ingrid Martin Director & Chief Financial Officer
Jean-Pierre Janson Chairman
RenÚ Branchaud Director
Paul Archer Director
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