- Junior miner Midland Exploration (TSXV:MD) announced a C$5,058,750 non-brokered private placement
- Centerra Gold (TSX:CG), one of Canada’s top gold miners, plans to take a 9.9 per cent position in the company
- Midland Exploration explores for gold and critical metals in Quebec
- Shares of Midland Exploration have given back 4.29 per cent year-over-year and 67.48 per cent since 2020
Junior miner Midland Exploration (TSXV:MD) announced a C$5,058,750 non-brokered private placement including participation from Centerra Gold (TSX:CG), one of Canada’s top gold miners.
This content has been prepared in collaboration with Midland Exploration Inc., and is intended for informational purposes only.
Midland will offer 10,650,000 flow-through shares priced at C$0.475, with Centerra expected to hold 9.9 per cent of the company’s issued and outstanding shares upon closing.
Proceeds will go towards qualifying exploration expenditures by December 31, 2026, which will be renounced to investors no later than December 31, 2025. Midland expects to recover refundable tax credits of 22.5 per cent on qualifying expenditures incurred on its gold projects.
Centerra’s investment grants it exposure to dozens of mineral properties prospective for gold, silver, copper, lithium, nickel, molybdenum, lead and platinum group elements, including existing partnerships with the likes of BHP, Rio Tinto and Agnico Eagle Mines, among numerous others.
According to Tuesday’s news release, Midland will undertake a second concurrent C$1.05 million non-brokered private placement with institutional investors offering 3,181,818 shares priced at C$0.33.
The financings are slated to close by July 25, 2025.
Leadership insights
“This placement will provide Midland with sufficient funds to ensure the progress and development of our wholly owned gold exploration projects in Abitibi, James Bay and northern Quebec,” Gino Roger, Midland Exploration’s president and chief executive officer, said in a statement. “We are thrilled to welcome Centerra as one of our newest shareholders.”
About Midland Exploration
Midland Exploration explores for gold and critical metals in Quebec.
Midland Exploration stock (TSXV:MD) last traded at C$0.34. The stock has given back 4.29 per cent year-over-year and 67.48 per cent since 2020.
Join the discussion: Find out what investors are saying about Centerra Gold and its investment in this junior miner on the Midland Exploration Inc. Bullboard and check out the rest of Stockhouse’s stock forums and message boards.
Stockhouse does not provide investment advice or recommendations. All investment decisions should be made based on your own research and consultation with a registered investment professional. The issuer is solely responsible for the accuracy of the information contained herein. For full disclaimer information, please click here.
