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TORONTO, July 28, 2020 (GLOBE NEWSWIRE) — MacDonald Mines Exploration Ltd. (TSX-V: BMK) (“MacDonald Mines”, “MacDonald” or the “Company”) announces that, due to continued investor demand, it is increasing the size of its non-brokered private placement offering to $4,250,000 consisting of: (i) “charity flow-through” Units at a price of $0.135 each (the “Charity FT Unit Offering”) and (ii) “flow-through” Units at a price of $0.10 each (the “FT Unit Offering” and, together with the Charity FT Unit Offering, the “Offering”). Eventus Capital Corp. has been appointed as a finder in connection with the Offering.
Each Unit will be comprised of one Common Share and one-half of one Common Share purchase warrant (each whole warrant, “Warrant”). Each Warrant shall be exercisable to acquire one Common Share (“Warrant Share”) at a price of $0.20 per Warrant Share for a period of 24 months from the closing of the Offering. If the closing price of the Common Shares is at a price equal to or greater than $0.35 for a period of 10 consecutive trading days, MacDonald will have the right to accelerate the expiry date of the warrants by giving notice, via a new release, to the holders of the Warrants that the Warrants will expire on the date that is 30 days after the issuance of said news release.
Common Shares issued under the FT Offering and Charity FT Unit Offering qualify as ‘flow through shares’ (“Flow Through Shares”). The gross proceeds from the FT Offering and Charity FT Unit Offering will be used to incur ‘Canadian exploration expenses’ that will qualify as ‘flow through mining expenditures’ as those terms are defined in the Income Tax Act which will be renounced to the initial purchasers of the Flow Through Shares.
Finders will receive a 7% cash payment and that number of compensation warrants (having the terms described above) equal to 7% of the Units sold. Closing of the Offering is subject to approval of the TSX Venture Exchange. Securities issued in the Offering are subject to a statutory hold period of four months.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirement is available
About MacDonald Mines Exploration Ltd.
MacDonald Mines Exploration Ltd. is a mineral exploration company headquartered in Toronto, Ontario focused on gold exploration in Canada. The Company is focused on developing its large SPJ Project in Northern Ontario.
The Company’s common shares trade on the TSX Venture Exchange under the symbol “BMK”.
To learn more about MacDonald Mines, please visit https://insidexploration.com/bmk/ or www.macdonaldmines.com
For more information, please contact:
Quentin Yarie, President & CEO, (416) 364-4986, qyarie@macdonaldmines.com
Or Mia Boiridy, Investor Relations, (416) 364-4986, mboiridy@macdonaldmines.com
Neither 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 release.
This News Release contains forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.
Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
The content published on Insidexploration.com is based on current events, historical data, company news releases, sedar filings, technical reports and information provided by the companies we work with. These publications may contain forward-looking statements, including but not limited to comments regarding predictions and projections. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The publications on Insidexploration.com are for informational and entertainment purposes only and are not a recommendation to buy or sell any security. Always do your own due diligence and talk to a licensed investment adviser prior to making any investment decisions. Please be sure to read company profiles on www.SEDAR.com for important risk disclosures.
We have completed 18 holes at the Sothman property, with 11 of the holes targeting the Sothman West area and ten of the 11 holes encountering Ni mineralization. See highlights below.
Read more here: http://ow.ly/AquG50Ox2ub
$CNC.V $CNIKF #Nickel #NickelExploration #Drilling
.@CanadaNickel reported drill results from regional targets, including assay results from the Sothman and Midlothian targets & observations from the Mann Northwest project. These are positive results that further confirm $CNC’s exploration model: http://ow.ly/uzTY50OwF8q #Nickel
Thanks @allanbreports for your inaugural report. Looking forward to working with you and introducing your readers to $PUMA.v #staytuned #goldexploration #resourceinvesting #newbrunswick
Puma Exploration Has Hit High-Grade To Bonanza-Grade Gold In A Series Of Parallel Zones Open At Depth
@ExplorationPuma
I’m seeing a very similar market for junior gold stocks as I saw back in the early days of the 2001 to 2011 gold and metals bull market. Basically, you could… https://twitter.com/i/web/status/1662102678942494721
$ARH $ARH.V #COM #OOTT #News
Joe DeVries setting the table with team building
“Altima Resources Ltd. has appointed Dr. Sabin Boily and Dr. Bob Mummery to the board of technical advisers.”
@The_Woodi @maikan5
https://www.stockwatch.com/News/Item/Z-C!ARH-3412595/C/ARH
News: @ExplorationPuma $PUMA Focused on Building a Gold Camp at its Williams Brook Gold Project
Puma’s President and CEO Marcel Robillard commented: “We continue to believe that the Williams Brook Gold Project is highly prospective for additional gold discoveries. Our work is… https://twitter.com/i/web/status/1661747923099725830
Canada Nickel Announces New Discovery at Mann Northwest Property, Provides Update on Regional Drilling at Midlothian and Sothman
http://ow.ly/XcZO50OvnQ0
$CNC.V $CNIKF #CanadaNickel #Nickel #Drilling #Mining #MiningNews #Exploration #Sothman #Midlothian
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© Copyright 2022 insidexploration.com | Multimedia and analytical due diligence database for the investing community | Contact us: insidexploration@gmail.com