By Sheri Kasprzak
New York, Oct. 27 - Madison Minerals Inc. said it has arranged a private placement for C$1.4 million.
The company intends to sell 5 million units at C$0.28 each.
The units include one share and one half-share warrant. The whole warrants are exercisable at C$0.50 each for two years.
The expiry of the warrants may be accelerated to 30 days if the company's stock trades above C$1.00 for more than 20 consecutive trading days.
Bolder Investment Partners, Ltd. is the placement agent for 3.5 million of the units. The remainder will be sold on a non-brokered basis.
Based in Vancouver, B.C., Madison is a mineral exploration company.
| Issuer: | Madison Minerals Inc.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$1.4 million
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| Units: | 5 million
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| Price: | C$0.28
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.50
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| Placement agent: | Bolder Investment Partners, Ltd. (for 3.5 million units)
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| Pricing date: | Oct. 26
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| Stock price: | C$0.27 at close Oct. 26
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