Business
Medallion Arranges $2 Million Private Placement with Jordan Capital Markets
TSX.V:MDL VANCOUVER, Feb. 27 /CNW/ - Medallion Resources Ltd ("Medallion" or the "Company" - TSX....
About this update from Gamma Resources Ltd.
[{"type":"text","content":"\n\n\n\nTSX.V:MDL\n\n\nVANCOUVER, Feb. 27 /CNW/ - Medallion Resources Ltd ("Medallion" or the\n"Company" - TSX.V: MDL) announces that it has arranged a brokered private\nplacement of up to $2,000,010 of flow-through and non-flow through units at\n$0.15 per unit through the issuance of up to 6,666,700 Flow Through Units ("FT\nUnits") and 6,666,700 Non-Flow Through Units ("Non-FT Units") (the\n"Offering"). Medallion has engaged Jordan Capital Markets Inc. ("Jordan") to\nact as sole and exclusive agent for the offering on a commercially\nreasonable-efforts basis.\n\n\nEach FT Unit will consist of one common share and one-half of one\ntransferable common share purchase warrant ("FT Warrant"). Each whole FT\nWarrant shall be exercisable to acquire one common share at a price of $0.25\nfor the period of 36 months from closing of the Offering ("Closing Date"). The\nCompany may give written notice to Jordan and the holders of the FT Warrants\nthat the expiry date of the FT Warrants has been shortened to the date that is\n30 days after the date of such notice if the closing price of the Company's\ncommon shares is equal to or greater than $0.50 per share for 20 consecutive\ntrading days any time following four months from closing.\n\n\nEach Non-FT Unit will consist of one common share and one transferable\ncommon share purchase warrant ("Warrant"). Each Warrant shall be convertible\ninto one common share at a price of $0.25 for the period of 36 months from the\nClosing Date. The Company may give written notice to Jordan and the holders of\nthe Warrants that the expiry date of the Warrants has been shortened to the\ndate that is 30 days after the date of such notice if the closing price of the\nCompany's common shares is equal to or greater than $0.50 per share for 20\nconsecutive trading days any time following four months from closing.\n\n\nThe Offering will be sold utilizing the "accredited" investor exemptions\nfrom prospectus requirements in applicable jurisdictions and such other\nexemptions as Jordan and the Issuer may agree.\n\n\nMedallion will pay Jordan a commission of 9% of the gross proceeds raised\nin the Offering (the "Commission") payable in cash or Non-FT Units. As\nadditional consideration, Jordan will be granted ...