- Madison Metals (GREN) has closed its non-brokered private placement for gross proceeds of C$959,398
- It intends to use the funds for general working capital and exploration of its Rössing North Uranium Project in Namibia
- CEO Duane Parnham participated in the placement in the amount of $99,999.80
- Madison Metals is a mineral exploration and development company focused on uranium
- Madison Metals (GREN) is unchanged trading at $0.50 per share
Madison Metals (GREN) has closed its non-brokered private placement for gross proceeds of C$959,398.
The company issued 1,598,996 units priced at $0.60.
Each unit consists of one common share and one-half of one common share purchase warrant.
Each warrant is exercisable into one common share priced at $0.90 for two years from the date of issuance.
Madison intends to use the funds for general working capital and exploration of its Rössing North Uranium Project in Namibia.
The participation by CEO Duane Parnham in the amount of $99,999.80 constitutes a related party transaction pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions.
Madison Metals is a mineral exploration and development company focused on uranium.
Madison Metals (GREN) is unchanged trading at $0.50 per share as of 2:23 pm EST.