Business

Midland Announces Closing of $3.0M Private Placement

MONTREAL, Dec. 09, 2025 (GLOBE NEWSWIRE) -- Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to announce that it has completed the closing of a...

articleMidland Exploration Inc.December 9, 20253/company/midland-exploration-inc/news/midland-announces-closing-3-0m-213000782
Midland Announces Closing of $3.0M Private Placement

About this update from Midland Exploration Inc.

[{"type":"image","alt":"Midland Exploration Inc.","displaySize":"","headline":null,"caption":"Midland Exploration Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":173,"url":"https://media.zenfs.com/en/globenewswire.com/4bcedac0f8760bc05cb82bf2b3374ef2"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/yijd62ahY27BIomqyF.V4A--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTI0MjtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/4bcedac0f8760bc05cb82bf2b3374ef2","width":300,"height":173}},"lazy":false},{"type":"text","content":"MONTREAL, Dec. 09, 2025 (GLOBE NEWSWIRE) -- Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to announce that it has completed the closing of a non-brokered private placement by issuing a total of 4,972,876 common shares of Midland that qualify as “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act (Canada) and section 359.1 of the Taxation Act (Québec) (each a “FT Share”) at $0.56 per FT Share and 550,000 common shares (each a “Share”) at $0.46 per Share, for total gross proceeds of $3,037,811 (the “Private Placement”). The securities issued in connection with the Private Placement are subject to a four-month-and-one-day statutory hold period expiring on April 10, 2026.","length":722,"tagName":"p"},{"type":"text","content":"Centerra Gold Inc. (“Centerra”) has exercised its right to maintain its ownership to approximately 9.9% by acquiring 550,000 Shares. This right had been granted to Centerra on July 25, 2025 pursuant to an Investor Rights Agreement with Midland.","length":244,"tagName":"p"},{"type":"text","content":"Midland will use the Private Placement proceeds to fund exploration works on its properties located in Quebec and for general corporate purposes.","length":145,"tagName":"p"},{"type":"text","content":"Insiders have participated in the Private Placement and were issued 443,500 FT Shares, for total gross proceeds of $348,360. Such participation in the Private Placement is considered a “related party transaction” as defined in Regulation 61-101 respecting Protection of Minority Security Holders in Special Transactions (“Regulation 61-101”). Midland relied on the exemptions from the formal valuation and minority shareholder approval requirements of Regulation 61-101 contained in sections 5.5(a) and 5.7(1)(a) of Regulation 61-101 as neither the fa...

More updates from Midland Exploration Inc.

Midland Exploration Inc.private placementMidlandcommon sharesCenterra Gold Inc.