By Devika Patel
Knoxville, Tenn., May 16 - Midway Gold Corp. announced that it intends to raise C$13 million in a private placement of stock.
Midway will sell 6.5 million common shares at C$2.00 per share.
The company may increase the deal by an additional 15%.
Proceeds will be used to fund Midway's ongoing exploring and drilling programs on its projects and new acquisitions.
Midway, based in White Rock, B.C., is a precious metals exploration company.
| Issuer: | Midway Gold Corp.
|
| Issue: | Common shares
|
| Amount: | C$13 million
|
| Greenshoe: | 15%
|
| Shares: | 6.5 million
|
| Price: | C$2.00
|
| Warrants: | No
|
| Pricing date: | May 16
|
| Stock symbol: | TSX Venture: MDW
|
| Stock price: | C$2.00 at close May 15
|
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