Midasco Capital Corp. - Non-Brokered Private Placement Closed

About this update from Spartan Metals Corp.

[{"type":"text","content":"\n\n\n Mar. 3, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nVANCOUVER, March 3 /CNW/ - The Company (MIDASCO CAPITAL CORP.) (TSX-V: MGC) has closed its previously announced non-brokered private placement of\n Units of the corporation (refer to news releases dated January 25, 2011\n and February 23, 2011) for gross proceeds of $1,030,791 through the\n issuance of 11,000,000 Units at a price of $0.10 per Unit.  Each Unit\n consists of one common share of the company and one-half share purchase\n warrant, with each warrant entitling the holder thereof to acquire one\n common share at an exercise price of $0.20 per share, at any time prior\n to February 25, 2012. If after June 25th, 2011 the common shares of the Issuer close at a price in excess of\n $0.40 per share for 10 consecutive days, then the expiry date of the\n warrants will be accelerated to the date that is 30 days after notice\n of the new expiry date is provided to the holders of the warrants.\n Proceeds will be used to review Uranium interests in the US, explore\n possible mineral acquisitions in Latin America and for general working\n capital.\n\n\nThe company has paid a 7% cash commission and granted 7% Finders Options\n to the following companies:\n\n\nPowerOne Capital Markets Ltd., $35,000 cash and 350,000 Finders Option\nHaywood Securities Inc. $ 14,000 cash and 140,000 Finders Option\nGlobal Securities Corp. $11,459 cash and 114,590 Finders Option\nCanaccord Genuity Corp. $8,750 cash and 87,500 Finders Op...

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