Midway Closes Private Placement
April 12 2010 - 7:00AM
Marketwired
Midway Gold Corp. ("Midway") (TSX VENTURE: MDW)(NYSE Amex: MDW) is
pleased to announce that it has completed a non-brokered private
placement (the "Private Placement") of units ("Units"), at a
subscription price of Cdn$0.60 per Unit, and for gross proceeds of
Cdn$800,000.
Each Unit is comprised of one common share (a "Share") and one
share purchase warrant (a "Warrant") of Midway. Each Warrant
entitles the holder to purchase one additional Share of the Company
(a "Warrant Share") up to and including October 9, 2011 (the
"Expiry Date") at an exercise price dependent upon the time of
exercise, as follows: Cdn$0.70 if exercised on or before October 9,
2010; Cdn$0.80 if exercised after October 9, 2010 but on or before
April 9, 2011; and Cdn$0.90 if exercised after April 9, 2011 but on
or before the Expiry Date.
None of the Shares and Warrants issued pursuant to the Private
Placement and any Warrant Shares issued upon the exercise of the
Warrants (together, the "Securities") have been registered under
the United States Securities Act of 1933, as amended, or any state
securities laws, and may not be offered or sold unless registered
thereunder or pursuant to an exemption from such registration
requirements. The Securities are also subject to a hold period
expiring on August 10, 2010 in accordance with the policies of the
TSX Venture Exchange and applicable Canadian securities laws.
Midway intends to use the net proceeds of the private placement
to fund its development and exploration activities on its Nevada
and Washington properties and for general corporate purposes.
This news release does not constitute an offer to sell or a
solicitation of an offer to by any of the Securities.
Midway is a precious metals exploration company listed on the
NYSE Amex and Tier-1 of the TSX Venture Exchange. Its primary focus
is discovering and developing high-grade gold resources in
environmentally favorable deposits within politically stable
regions known for large gold endowments.
ON BEHALF OF THE BOARD
Daniel Wolfus, Chairman and CEO
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 release.
Contacts: Midway Gold Corp. R.J. Smith (877) 475-3642
(toll-free) www.midwaygold.com
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