Business
Midnight Sun Mining Corp. Announces Private Placement
NOT FOR DISTRIBUTION TO THE UNITED STATES OR FOR DISSEMINATION IN THE UNITED STATES VANC...
About this update from Midnight Sun Mining Corp.
[{"type":"text","content":"Midnight Sun Mining Corp. Announces Private PlacementNOT FOR DISTRIBUTION TO THE UNITED STATES OR FOR DISSEMINATION IN THE UNITED STATESVANCOUVER, BC / ACCESSWIRE / June 4, 2021 / Midnight Sun Mining Corp. (the \"Company\" or \"Midnight Sun\") (TSXV:MMA) is pleased to announce a non-brokered private placement of up to 3,000,000 units (the \"Units\") at a price of $0.35 per Unit for gross proceeds of $1,050,000 (the \"Offering\"). Each Unit will consist of one (1) common share (\"Common Share\") in the capital of the Company and one (1) Common Share purchase warrant (a \"Warrant\"). Each Warrant will entitle the holder to purchase one Common Share of the Company for a period of twenty-four months from the closing of the Offering at an exercise price of $0.50. The Company intends to close the Offering as soon as practicable.The net proceeds of the Offering will be used by the Company as general working capital.The Offering, including the future issuance of the Common Shares and Warrants, is subject to the final approval of the TSX Venture Exchange. All securities issued will be subject to a hold period of four months and one day pursuant to applicable securities laws.Stock Option GrantMidnight Sun has granted stock options to purchase an aggregate of 550,000 Common Shares of the Company, at an exercise price of $0.31 per share, to certain consultants working for the Company. The stock options are granted and vest pursuant to Midnight Sun's 10% rolling stock option plan. 350,000 of these stock options expire twelve months from the date of issue and 200,000 expire five years from the date of issue.ON BEHALF OF THE BOARD OF MIDNIGHT SUN MINING CORP.Al FabbroPresident & CEOFor Further Information Contact:Al FabbroTel: +1 604 351 8850NEITHER 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 NEWS RELEASE.These securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\") and may not be offered or sold in the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) absent U.S. registration or an applicable exemption from the U.S. registration ...