Midway Announces US$12 Million Bought Deal Offering
20 5월 2011 - 8:42PM
Marketwired
Midway Gold Corp. ("Midway" or the "Company") (TSX VENTURE:
MDW)(NYSE Amex: MDW) is pleased to announce that it has entered
into an agreement with Haywood Securities Inc. (the "Underwriter"),
pursuant to which the Underwriter has agreed to purchase, on a
bought deal basis, 7,500,000 common shares (the "Common Shares") of
the Company at a price of US$1.60 per Common Share (the "Issue
Price") for aggregate gross proceeds to the Company of
US$12,000,000 (the "Offering"). The Common Shares are to be sold by
way of a prospectus supplement to Midway's existing base shelf
prospectus dated April 21, 2011 and filed with the securities
commissions in the provinces of British Columbia, Alberta and
Ontario and in the United States by way of a prospectus supplement
to the Company's base shelf prospectus included in the Company's
shelf registration statement filed with the U.S. Securities and
Exchange Commission (the "SEC") on April 21, 2011.
Midway intends to use the net proceeds of the offering to
advance its projects, to fund its general and administrative costs
(including property maintenance fees) and for general working
capital purposes.
Closing of the Offering is expected to occur on or about June 6,
2011 and is subject to receipt of all necessary regulatory
approvals, including the approval of the TSX Venture Exchange and
the NYSE Amex Equities.
Haywood Securities Inc. will receive a cash commission of 5% of
the total gross proceeds.
Midway has filed a base shelf prospectus with the securities
commissions in each of the provinces of British Columbia, Alberta
and Ontario and a shelf registration statement with the SEC which
will serve as the base for the Offering in the United States to
which this communication relates. A copy of the base shelf
prospectus in the provinces of British Columbia, Alberta and
Ontario may be obtained by accessing the website maintained by the
Canadian securities regulatory authorities at www.sedar.com. A copy
of the shelf registration statement and prospectus filed in the
United States may be obtained by visiting EDGAR on the SEC website
at www.sec.gov. Before you invest, you should read the base shelf
prospectus, any prospectus supplement and other documents the
issuer has filed with the Canadian securities commissions and the
SEC for more complete information about the issuer and this
offering. Midway, any agent or any dealer participating in the
offering will arrange to send you the base shelf prospectus and the
prospectus supplement, when available, if you request it from the
Underwriter at:
Haywood Securities Inc.
Suite 700-200 Burrard Street
Vancouver, BC, Canada
V6C 3L6
Attention: Michelle Jankovich
Telephone: 604-697-7126
E-mail: mjankovich@haywood.com
ON BEHALF OF THE BOARD
Daniel Wolfus, Chairman and CEO
About Midway Gold Corp.
Midway Gold Corp. is a precious metals company with a vision to
design, build, and operate mines in a manner accountable to all
stakeholders while producing an acceptable return to its
shareholders. Midway controls over 65 square miles of mineral
rights in the western United States; four advanced projects
include: Spring Valley, Pan, Golden Eagle, and Midway. Two early
stage exploration targets are Gold Rock and Burnt Canyon. For more
information about Midway, please visit our website at
www.midwaygold.com.
This press release contains "forward-looking statements" and
"forward-looking information" within the meaning of Canadian and
United States securities laws, which may include, but is not
limited to, the intended terms of the offering and use of proceeds.
Such forward-looking statements and forward-looking information
reflect our current views with respect to future use of proceeds
and are subject to certain risks, uncertainties and assumptions,
including but not limited to risks related to delays in closing,
the receipt of regulatory approvals and changes in market
conditions. Should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those anticipated or
expected. We do not undertake to update forward-looking statements
or forward-looking information, except as may be required by
law.
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 Manager of Corporate
Administration (877) 475-3642 (toll-free) www.midwaygold.com
Midway Gold Corp. (TSXV:MDW)
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