By Sheri Kasprzak
Atlanta, Feb. 4 - Midway Gold Corp. said it will raise up to C$2,125,000 in a non-brokered private placement of units.
The company plans to sell up to 2.5 million units at C$0.85 each. The units are comprised of one share and one warrant.
The warrants allow for an additional share at C$1 each for one year.
Based in Vancouver, B.C., Midway is a precious metals exploration company. The proceeds from the private placement will be used to fund exploration expenses on the company's Spring Valley property. The remainder will be used for working capital.
| Issuer: | Midway Gold Corp.
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| Issue: | Units of one share and one warrant
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| Amount: | C$2,125,000
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| Units: | 2.5 million
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| Price: | C$0.85
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| Warrants: | One warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$1.00
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| Pricing date: | Feb. 4
|
| Stock price: | C$1.07 at close Feb. 4
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