Midway Gold (MDW) Closes 12.26M Offering at $1.28/Unit; Grosses $15.7M in Proceeds
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Midway Gold Corp. (AMEX: MDW) has closed its previously announced unit offering in Canada and the United States (the "Offering") for aggregate gross proceeds of US$15,694,799 through the issue of 12,261,562 units (the "Units") at a price of US$1.28 per Unit, including the partial exercise of the over-allotment option. Each Unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant (a "Warrant") will entitle the holder to purchase one common share at a price of US$1.85 per share for a period of 18 months following the closing of the Offering. Midway can accelerate the expiry of the warrants to a date 30 days after giving notice to the holders thereof in the event Midway's common shares trade at a closing price on the NYSE MKT of greater than US$2.10 for a period of 20 consecutive trading days following the closing.
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