MONTREAL, May 21, 2026 (GLOBE NEWSWIRE) -- Midland Exploration Inc. ("Midland" or "Corporation") (TSXV:MD) is pleased to announce that it has completed a second and final tranche of its previously announced non-brokered private placement by issuing 6,926,123 units of Midland at a price of $0.45 per unit for aggregate gross proceeds of $3.1 million. Each unit consists of one common share and one warrant. Each warrant entitles the holder to purchase one common share of Midland at a price of $0.65 for a period of two years from the date of issuance. The total gross proceeds for this tranche and the one previously closed on May 11, 2026 is $5.3 million.
Institutional investors have participated in the second tranche of the private placement, such as CDPQ Sodémex Inc. (a wholly-owned subsidiary of Caisse de dépôt et placement du Québec), Desjardins Capital Appui PME S.E.C., NQ Investissement Minier and SIDEX, société en commandite. In addition, Centerra Gold Inc. ("Centerra") has exercised its preemptive right to maintain its ownership to approximately 9.9% by acquiring 1,173,333 units. This right was granted to Centerra in July 2025 pursuant to an investor rights agreement with Midland.
This second tranche was carried out pursuant to prospectus exemptions of applicable securities laws and is subject to final acceptance by the TSX Venture Exchange. All securities issued under this second tranche will be subject to a ...
