Midland Exploration Receives $1.3 Million From Warrants Exercised
MONTREAL, QUEBEC -- (Marketwire) -- 05/18/11 -- Midland Exploration Inc. ('Midland' or the 'Company') (TSX VENTURE: MD) is pleased to announce that the Company has received total proceeds of $1,304,713 from the exercise of 784,800 common share purchase warrants (the 'Warrants'). The Warrants expired on May 13th, 2011 and were issued in connection with the Company's financings completed in November 2009.
To date, Midland has approximately $5,500,000 in working capital, no debt and no warrants outstanding. The Company has 24,811,079 common shares issued and outstanding.
About Midland Exploration
Midland targets the excellent mineral potential and the favourable investment climate of Quebec to make the discovery of new world-class deposits of gold, base metals and rare earth elements. Midland is proud to count on reputable partners such as Agnico-Eagle Mines Limited, Osisko Mining Corporation, Aurizon Mines Limited, North American Palladium Limited, Japan Oil, Gas and Metals National Corporation, Zincore Metals Inc. and SOQUEM Inc. Midland prefers to work in partnership and intends to quickly conclude additional agreements in regard to newly acquired properties. Midland is currently evaluating new opportunities and other projects in order to increase the portfolio of the Company.
This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in Midland's periodic reports including the annual report or in the filings made by Midland from time to time with securities regulatory authorities.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Midland Exploration Inc.
Gino Roger
President and Chief Executive Officer
450-420-5977
450-420-5978 (FAX)
info@midlandexploration.com
www.midlandexploration.com