09:55:23 EDT Mon 20 May 2024
Enter Symbol
or Name
USA
CA



Midnight Sun Mining Corp
Symbol MMA
Shares Issued 119,593,014
Close 2024-05-01 C$ 0.22
Market Cap C$ 26,310,463
Recent Sedar Documents

Midnight Sun increases financing to $4.4-million

2024-05-02 09:54 ET - News Release

Mr. Al Fabbro reports

MIDNIGHT SUN MINING CORP. UPSIZES PRIVATE PLACEMENT TO $4.4 MILLION

Due to significant investor demand, Midnight Sun Mining Corp. has increased the maximum gross proceeds of its previously announced non-brokered private placement from $3.3-million to $4.4-million. Under the revised offering, the company intends to sell up to 20 million units of the company at a price of 22 cents per unit.

Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share for a period of 36 months following the closing date of the offering at an exercise price of 33 cents. The company intends to close the offering as soon as practicable.

The net proceeds of this offering will be used by the company to finance exploration work on its Zambian mineral properties as well as for general working capital.

Red Cloud Securities Inc. is acting as a finder in connection with the offering.

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.

About Midnight Sun Mining Corp.

Midnight Sun is focused on exploring its flagship Solwezi project, located in Zambia. Situated in the heart of the Zambia-Congo copperbelt, the second-largest copper-producing region in the world, the company's property is vast and highly prospective. Midnight Sun's Solwezi project is surrounded by world-class producing copper mines, including Africa's largest copper mining complex right next door: First Quantum's Kansanshi mine. Led by an experienced geological team with multiple discoveries and mines around the world to its credit, Midnight Sun intends to find and develop Zambia's next generational copper deposit.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.