Meadow Bay Gold Closes First Tranche of Non-Brokered Private Placement
![Meadow Bay Gold Closes First Tranche of Non-Brokered Private Placement](https://www.minenportal.de/media/goldseiten-news.jpg)
The Company paid cash finder's fees in the amount of $43,050 and issued warrants ("Finder's Warrants") to purchase up to 861,000 Shares, the Finder's Warrants having the same terms as the Warrants.
All securities issued under the Private Placement are subject to a four month hold period expiring on March 11, 2018.
The proceeds raised from the Private Placement will be used for general corporate and working capital requirements.
Insiders, each being a "related party" of the Company (as such term is defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101")), have subscribed for a total of 2,700,000 Units, as follows: Christopher Crupi (President, CEO and a director of the Company), for 2,000,000 Units; and Robert Dinning (Chairman and a director of the Company), for 700,000 Units. The Company relied upon exemptions from the valuation and minority shareholder approval requirements of MI 61-101 available pursuant to sections 5.5(b) and 5.7(1)(b) of MI 61-101, as the Company is not listed on a senior specified stock exchange and the Private Placement raised proceeds of less than $2,500,000.
For further information please contact:
Meadow Bay Gold Corp. www.meadowbaygold.com
Robert Dinning, Chairman and Director
Tel: 604-641-4450
Matthew Harrington, Launch IR
Tel: 613-882-7467
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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