MacMillan Minerals Closes Private Placement Financing

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[{"type":"text","content":"MacMillan Minerals Closes Private Placement Financing(via Thenewswire.ca)\n \n \nTORONTO, CANADA - June 3, 2013 - Mr. George A. Brown, President of MacMillan Minerals Inc., (TSX-V: MMX) is pleased to announce that the Company has filed with the TSX Venture Exchange for final acceptance of a private placement financing. The financing, subject to regulatory approval, consists of 4,587,500 units at $0.04 for proceeds of $183,500. Each unit consists of one common share and one full two year warrant exercisable at $0.06 during the first year and exercisable at $0.10 during the second year. Three insiders subscribed for 1,050,000 units representing $42,000 or 22.9% of the financing. \n\n \n \nThe following shares and warrants were issued as a result of the financing:\n\n \n \nDate Number of shares Number of warrants Restricted Until Warrant Expiry\n\n\n \nFeb. 01, 2013 1,600,000 1,600,000 June 02, 2013 Feb. 01, 2015\n\n\n \nFeb. 11, 2013 950,000* 950,000* June 12, 2013 Feb. 11, 2015\n\n\n \nMar. 13, 2013 1,700,000** 1,700,000** July 14, 2013 Mar. 13, 2015\n\n\n \nMar. 28, 2013 337,500 337,500July 29, 2013Mar. 28, 2015\n\n\n \n*Includes 450,000 shares and 450,000 warrants issued to two directors\n\n\n \n**Includes 600,000 shares and 600,000 warrants issued to a former director\n\n \n \nThe financing has been approved by the three directors that do not have a direct interest in the private placement, who also represent a majority of the board. \n\n \n \nThe Company currently has 59,664,875 common shares issued and outstanding including those issued in this financing.\n\n \n \nThe use of proceeds is approximately as follows:\n\n \n \n-Mexico mining concession renewal fees $37,800\n\n\n \n-Mexico exploration property costs (consulting, assay, legal, etc) $46,400\n\n\n \n-Printing, filing, and mailing for Annual Special and General Meeting $11,800\n\n\n \n-renewal of directors and officers liability insurance $ 8,600\n\n\n \n-outstanding legal fees $30,000\n\n\n \n-listing fees $10,600 \n\n\n \n-salaries and consulting fees to related parties $28,000\n\n\n \n-administration (sedar filing, news releases, phone, fax, internet, etc.) $10,300\n\n \n \nMacMillan is an exploration company with a focus on gold and silver exploration programs on numerous properties in Mexico. Additional information on the Company can be viewed at www.sedar.com \n\...

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