MIDNIGHT SUN MINING CORP. ("MMA")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement, Private Placement-Non-Brokered
BULLETIN DATE: December 6, 2013
TSX Venture Tier 2 Company
Acquisition:
TSX Venture Exchange has accepted for filing a Property Option Agreement (the "Agreement") between Midnight Sun Mining Corp. ("Midnight Sun") and Kam Chuen Resource Holdings Ltd. ("Kam Chuen"), dated July 30, 2013. The Agreement gives Midnight Sun the right to earn up to a 60% interest in certain mineral exploration permits near Solwezi, Zambia (the "Properties").
In order to acquire the Properties, the Company must issue an aggregate of 15,333,333 common shares in Midnight Sun over a 3 year period, and incur total exploration expenditures of $3,666,667 over a 4 year period.
The transaction is arms length.
Further information can be found in the Company's news releases dated May 9, 2013 and November 29, 2013.
Private Placement:
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced June 3, 2013:
Number of Shares: 4,329,350 shares
Purchase Price: $0.16 per share
Warrants: 4,329,350 share purchase warrants to purchase 4,329,350 shares
Warrant Exercise Price: $0.30 for an 18 month period
Number of Placees: 27 placees
Finders' Fees: Canaccord Genuity Corp. $ 6,144 cash and 38,400 warrants payable.
PI Financial Corp. $7,680 cash and 48,000 warrants payable.
Woodstone Capital Inc. $3,840 cash and 24,000 warrants payable.
National Bank Correspondent Network $650 cash and 4,000 warrants payable.
- Each warrant is exercisable into one common share at $0.30 for 18 months from closing.
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly. [Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.]
________________________________________
|
|
