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Midnight Sun Mining Completes Private Placement

July 05, 2021 at 09:00 AM EDT

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

NOT FOR DISTRIBUTION TO THE UNITED STATES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BC / ACCESSWIRE / July 5, 2021 / Midnight Sun Mining Corp. (the 'Company' or 'Midnight Sun') (TSXV:MMA) has increased and completed its previously announced non-brokered private placement by issuing 5,619,714 units (the 'Units') at a price of $0.35 per Unit for gross proceeds of $1,966,900. Each Unit consists of one common share ('Common Share') in the capital of the Company and one Common Share purchase warrant ('Warrant'). Each Warrant entitles the holder to purchase one Common Share of the Company for a period of twenty-four months from closing, at an exercise price of $0.50.

Finder's fees of $61,887 will be paid in cash and 176,820 Finder's Warrants will be issued in connection with the Private Placement.

All securities issued pursuant to this private placement, including the Common Shares underlying the Warrants, are subject to a statutory hold period which expires on November 3, 2021.

The net proceeds of this offering will be used by the Company as general working capital.

The completion of this private placement remains subject to final acceptance by the TSX Venture Exchange.

ON BEHALF OF THE BOARD OF MIDNIGHT SUN MINING CORP.
Al Fabbro
President & CEO

For Further Information Contact:
Al Fabbro
Tel: +1 604 351 8850

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEW RELEASE.

These securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the 'U.S. Securities Act') and may not be offered or sold in the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

SOURCE: Midnight Sun Mining Corp.

View source version on accesswire.com:
https://www.accesswire.com/654184/Midnight-Sun-Mining-Completes-Private-Placement