By Sheri Kasprzak
New York, May 5 - Midway Gold Corp. has upsized to C$6,705,000 its previously announced C$4.68 million private placement.
The company now plans to sell up to 3,725,000 units at C$1.80 each.
The units consist of one share and one half-share warrant. Each whole warrant is exercisable at C$2.70 for one year.
The expiry of the warrants may be accelerated to 30 days if the company's stock trades above C$3.25 for more than 15 consecutive trading days.
The deal priced on May 3 as a C$4.68 million offering of 2.6 million units.
Vancouver, B.C.-based Midway is a gold and precious metals exploration and development company.
Issuer: | Midway Gold Corp.
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Issue: | Units of one share and one half-share warrant
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Amount: | C$6,705,000 (maximum)
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Units: | 3,725,000 (maximum)
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Price: | C$1.80
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Warrants: | One half-share warrant per unit
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Warrant expiration: | One year
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Warrant strike price: | C$2.70
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Settlement date: | May 3
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Upsized: | May 5
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Stock symbol: | TSX Venture: MDW
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Stock price: | C$1.90 at close May 3
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Stock price: | C$2.25 at close May 5
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