Non-brokered offering sells shares at C$0.77 apiece to Teck Resources
By Devika Patel
Knoxville, Tenn., July 2 - Midas Gold Corp. said it will conduct a C$9.81 million non-brokered private placement of stock.
The company will sell 12.74 million common shares at C$0.77 apiece to Teck Resources Ltd. The price per share is a 5.48% premium to the July 1 closing share price, C$0.73 and also represents a 10% premium to the five-day volume-weighted average trading price of the shares and a 5% premium to the closing price on June 28, the company noted in a press release.
Proceeds will be used to continue the evaluation of the Golden Meadows Gold project and for general working capital purposes.
Midas is a gold explorer in Vancouver, B.C.
| Issuer: | Midas Gold Corp.
|
| Issue: | Common shares
|
| Amount: | C$9,809,800
|
| Shares: | 12.74 million
|
| Price: | C$0.77
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Investor: | Teck Resources Ltd.
|
| Pricing date: | July 2
|
| Stock symbol: | Toronto: MAX
|
| Stock price: | C$0.73 at close July 1
|
| Market capitalization: | C$88.39 million
|
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