By Sheri Kasprzak
Atlanta, June 22 - Midway Gold Corp. said it plans to head to the private placement market with a C$1.15 million offering.
The non-brokered deal includes 1 million units at C$1.15 each to a U.S.-based institutional investor.
The units are comprised of one share and one half-share warrant. The warrants allow for the purchase of an additional share at C$1.15 each for one year.
Based in Vancouver, B.C., Midway is a gold exploration company. The proceeds will be used for exploration on the Spring Valley property and for working capital.
| Issuer: | Midway Gold Corp.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$1.15 million
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| Units: | 1 million
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| Price: | C$1.15
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$1.15
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| Pricing date: | June 22
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| Stock price: | C$1.15 at close June 22
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