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Toronto Star
3 days ago
- Business
- Toronto Star
Midland Announces Closing of $6.1 Million Private Placement with Strategic Investment from Centerra Gold
MONTREAL, July 28, 2025 (GLOBE NEWSWIRE) — Midland Exploration Inc. ('Midland' or the 'Corporation') (TSX-V: MD) is pleased to announce the closing of a previously announced private placement (see press release dated July 22, 2025), for gross proceeds of $5,058,750 from the sale of 10,650,000 shares of the Corporation (each a 'FT Share') at a price of $0.475 per FT Share. Each FT Share will qualify as a 'flow-through share' within the meaning of subsection 66(15) of the Income Tax Act (Canada) ('Tax Act'). As part of the private placement, Midland is pleased to welcome Centerra Gold Inc. ('Centerra') (TSX: CG) (NYSE: CGAU) as a new strategic investor. Centerra now holds approximately 9.9% of the Corporation's issued and outstanding common shares.
Yahoo
3 days ago
- Business
- Yahoo
Midland Announces Closing of $6.1 Million Private Placement with Strategic Investment from Centerra Gold
MONTREAL, July 28, 2025 (GLOBE NEWSWIRE) -- Midland Exploration Inc. ('Midland' or the 'Corporation') (TSX-V: MD) is pleased to announce the closing of a previously announced private placement (see press release dated July 22, 2025), for gross proceeds of $5,058,750 from the sale of 10,650,000 shares of the Corporation (each a 'FT Share') at a price of $0.475 per FT Share. Each FT Share will qualify as a 'flow-through share' within the meaning of subsection 66(15) of the Income Tax Act (Canada) ('Tax Act'). As part of the private placement, Midland is pleased to welcome Centerra Gold Inc. ('Centerra') (TSX: CG) (NYSE: CGAU) as a new strategic investor. Centerra now holds approximately 9.9% of the Corporation's issued and outstanding common shares. Midland is also pleased to announce the closing of a concurrent non-brokered private placement of 3,181,819 common shares (each a 'Share') at a price of $0.33 per Share, for gross proceeds of $1,050,000, with the following entities: CDPQ Sodémex Inc. (a wholly owned subsidiary of Caisse de dépôt et placement du Québec), which exercised its contractual right to participate in certain share placements of the Corporation; SIDEX LP; and NQ Investissement Minier LP. After closing of the private placements of FT Shares and Shares for aggregate gross proceeds of $6,108,750 (collectively, the 'Offering'), there are 107,450,577 common shares of the Corporation issued and outstanding. The gross proceeds from the Offering will be used for 'Canadian exploration expenses' that qualify as 'flow-through mining expenditures', as both terms are defined in the Tax Act (the 'Qualifying Expenditures'). The Qualifying Expenditures will be incurred on or before December 31, 2026, and will be renounced to the subscribers with an effective date no later than December 31, 2025, in an aggregate amount not less than the gross proceeds raised from the issuance of the FT Shares. The proceeds of the Offering are expected to enable the Corporation to generate and advance high-quality targets on its wholly owned gold exploration projects in Abitibi, James Bay, and northern Quebec over the next 18 months. Refundable tax credits of 22.5% are expected to be recovered on eligible exploration expenditures incurred by the Corporation on its gold projects. In connection with the Offering, Midland entered into an Investor Rights Agreement with Centerra, under which, subject to certain conditions, Centerra was granted certain rights, including the right to participate in future share issuances in order to maintain its percentage of share ownership in the Corporation. The Offering remains subject to the final approval of the TSX Venture Exchange. All securities issued in connection with the Offering are subject to a hold period of four months plus one day from the closing date, in accordance with applicable Canadian securities legislation. About Centerra Centerra Gold Inc. is a Canadian-based mining company focused on operating, developing, exploring and acquiring gold and copper deposits in North America, Türkiye, and other markets worldwide. Centerra owns and operates the Mount Milligan mine in British Columbia, Canada, and the Öksüt mine in Türkiye. It also owns several exploration and development assets and manages a molybdenum business unit with assets in Canada and the United States. About Midland Midland targets the excellent mineral potential of Quebec to make the discovery of new world-class deposits of gold and critical metals. Midland is proud to count on reputable partners such as BHP Canada Inc., Rio Tinto Exploration Canada Inc., Agnico Eagle Mines Limited, Wallbridge Mining Company Ltd, Probe Gold Inc., Electric Elements Mining Corp., SOQUEM Inc., Nunavik Mineral Exploration Fund, and Abcourt Mines Inc. Midland prefers to work in partnership and intends to quickly conclude additional agreements in regard to newly acquired properties. Management is currently reviewing other opportunities and projects to build up the Corporation portfolio and generate shareholder value. For further information, please consult Midland's website or contact: Gino Roger, President and Chief Executive Officer Tel.: 450 420-5977Fax: 450 420-5978Email: info@ 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. Forward-Looking Statements This news release contains forward-looking statements and forward-looking information (together, 'forward-looking statements') within the meaning of applicable securities laws. Forward-looking statements include statements relating to the Corporation's expectations regarding the projected use of proceeds raised under the Offering, the conclusion of additional agreements in regard to newly acquired properties, and other estimates and statements that describe Midland's future plans, objectives or goals, including words to the effect that Midland or management expects a stated condition or result to occur. All statements, other than statements of historical facts, are forward-looking statements. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include, without limitation, changes in general economic conditions and conditions in the financial markets, changes in demand and prices for minerals, failure to obtain the requisite permits and approvals from government bodies and third parties, regulatory and governmental policy changes (laws and policies) and those risks set out in Midland's public documents, including in each management discussion and analysis, filed on SEDAR+ at Although Midland believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, Midland disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Hamilton Spectator
6 days ago
- Business
- Hamilton Spectator
Q2 Metals Announces Upsized Private Placement of Flow-Through Shares
Not for distribution to United States newswire services or for dissemination in the United States VANCOUVER, British Columbia, July 25, 2025 (GLOBE NEWSWIRE) — Q2 Metals Corp. (TSX.V: QTWO | OTCQB: QUEXF | FSE: 458) ('Q2' or the 'Company') is pleased to announce that the Company has amended its agreement with Canaccord Genuity Corp., as sole agent (the 'Agent'), to increase the size of its previously announced best efforts private placement to raise aggregate gross proceeds of $21,000,000 (the 'Offering'). The Offering shall consist of 21,000,000 common shares of the Company that qualify as 'flow-through shares' (within the meaning of subsection 66(15) of the Tax Act (as defined below) at a price of $1.00 per FT Share (as defined below) (the 'Offering Price'). The FT Shares shall be comprised of 20,000,000 offered pursuant to the Listed Issuer Financing Exemption (as defined below) (the 'LIFE FT Shares') and 1,000,000 offered by way of private placement (the 'Non-LIFE FT Shares' and, together with the LIFE FT Shares, the 'FT Shares'). In addition, the Company will grant the Agent an option to sell up to an additional 5,000,000 LIFE FT Shares at the Offering Price to raise additional gross proceeds of up to $5,000,000 (the 'Agent's Option') on the same terms and conditions as set out herein. The Agent's Option is exercisable in whole or in part at any time, up to the Closing Date (as defined below). An existing shareholder of the Company has elected to exercise its participation rights to maintain its pro-rata ownership in the Company. The Company will use an amount equal to the gross proceeds received by the Company from the sale of the FT Shares, pursuant to the provisions in the Income Tax Act (Canada) (the 'Tax Act'), to incur (or be deemed to incur) eligible 'Canadian exploration expenses' that qualify as 'flow-through critical mineral mining expenditures' (as both terms are defined in the Tax Act) (the 'Qualifying Expenditures') related to the Company's projects in Québec, on or before December 31, 2026, and to renounce all the Qualifying Expenditures in favour of the subscribers of the FT Shares effective December 31, 2025. In the event the Company is unable to renounce Qualifying Expenditures effective on or prior to December 31, 2025 to the subscribers for the FT Shares purchased in an aggregate amount not less than the gross proceeds raised from the issue of the FT Shares and/or the Qualifying Expenditures are otherwise reduced by the Canada Revenue Agency, the Company will indemnify each FT Share subscriber for any additional taxes payable by such subscriber as a result of the Company's failure to renounce the Qualifying Expenditures or as a result of the reduction, as agreed. The Offering is expected to close on or about August 14, 2025 (the 'Closing Date'), or such other date as the Company and the Agent may agree and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the conditional approval of the TSX Venture Exchange. Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions ('NI 45-106'), the FT Shares will be offered for sale to purchasers resident in Canada and/or other qualifying jurisdictions. The LIFE FT Shares will be offered pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the 'Listed Issuer Financing Exemption') and the securities issued thereof to Canadian resident subscribers will not be subject to a hold period pursuant to applicable Canadian securities laws. The securities issued pursuant to the Non-LIFE FT Shares will be subject to a four-month hold period. There is an offering document related to the Offering that can be accessed under the Company's profile on SEDAR+ at and on the Company's website at . Prospective investors should read this offering document before making an investment decision. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 , as amended (the '1933 Act') or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. persons unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available. 'United States' and 'U.S. person' have the meaning ascribed to them in Regulation S under the 1933 Act. ABOUT Q2 METALS CORP. Q2 Metals is a Canadian mineral exploration company focused on the Cisco Lithium Project located within the greater Nemaska traditional territory of the Eeyou Istchee, James Bay, Quebec, Canada. The Cisco Project is comprised of 801 claims, totaling 41,253 hectares, with the main mineralized zone just 6.5 km from the Billy Diamond Highway, which transects the Project. The Town of Matagami, rail head of the Canadian National Railway, is approximately 150 km to the south. The Cisco Project has district-scale potential with an initial Exploration Target estimating a range of potential lithium mineralization and grade of 215 to 329 Mt at a grade ranging from 1.0 to 1.38% Li2O, based only on the first 40 holes drilled to date. Drill testing continues with mineralization open at depth and along strike with potential for significant expansion at the Cisco Mineralized Zone. The 2025 Summer Program is ongoing, with rolling assay results anticipated into Q3 2025 as the Company works towards a maiden resource estimate. FOR FURTHER INFORMATION, PLEASE CONTACT: Forward-Looking Statements This news release contains forward-looking statements and forward-looking information (collectively, 'forward-looking statements') within the meaning of applicable Canadian legislation. Forward-looking statements are typically identified by words such as: 'believes', 'expects', 'anticipates', 'intends', 'estimates', 'plans', 'may', 'should', 'would', 'will', 'potential', 'scheduled' or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. Accordingly, all statements in this news release that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations and orientations regarding the future including, without limitation, any statements or plans regard the geological prospects of the Company's properties and the future exploration endeavors of the Company. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in such forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date specified in such statement. Forward looking statements in this news release include, but are not limited to, statements with respect to closing of the Offering, use of proceeds of the Offering, tax treatment of the FT Shares, the Company's proposed summer exploration and drill programs, drilling results on the Cisco Project and inferences made therefrom, the preparation of an exploration target on the Cisco Project, the potential scale of the Cisco Project, the focus of the Company's current and future exploration and drill programs, the scale, scope and location of future exploration and drilling activities.,. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, variations in ore grade or recovery rates, changes in project parameters as plans continue to be refined, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, reallocation of proposed use of funds, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same. Readers are cautioned that mineral exploration and development of mines is an inherently risky business and accordingly, the actual events may differ materially from those projected in the forward-looking statements. Additional risk factors are discussed in the section entitled 'Risk Factors' in the Company's Management Discussion and Analysis for its recently completed fiscal period, which is available under Company's SEDAR profile at . Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law. 'Neil McCallum, a registered permit holder with the Ordre des Géologues du Québec and Qualified Person as defined by NI 43-101 has reviewed and approved the technical information in this news release. Mr. McCallum is a director and the Vice President Exploration for Q2 Metals.' Neither the 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.
Toronto Star
6 days ago
- Business
- Toronto Star
Q2 Metals Announces Upsized Private Placement of Flow-Through Shares
Not for distribution to United States newswire services or for dissemination in the United States VANCOUVER, British Columbia, July 25, 2025 (GLOBE NEWSWIRE) — Q2 Metals Corp. (TSX.V: QTWO | OTCQB: QUEXF | FSE: 458) ('Q2' or the 'Company') is pleased to announce that the Company has amended its agreement with Canaccord Genuity Corp., as sole agent (the 'Agent'), to increase the size of its previously announced best efforts private placement to raise aggregate gross proceeds of $21,000,000 (the 'Offering'). The Offering shall consist of 21,000,000 common shares of the Company that qualify as 'flow-through shares' (within the meaning of subsection 66(15) of the Tax Act (as defined below) at a price of $1.00 per FT Share (as defined below) (the 'Offering Price'). The FT Shares shall be comprised of 20,000,000 offered pursuant to the Listed Issuer Financing Exemption (as defined below) (the 'LIFE FT Shares') and 1,000,000 offered by way of private placement (the 'Non-LIFE FT Shares' and, together with the LIFE FT Shares, the 'FT Shares'). In addition, the Company will grant the Agent an option to sell up to an additional 5,000,000 LIFE FT Shares at the Offering Price to raise additional gross proceeds of up to $5,000,000 (the 'Agent's Option') on the same terms and conditions as set out herein. The Agent's Option is exercisable in whole or in part at any time, up to the Closing Date (as defined below).
Cision Canada
24-07-2025
- Business
- Cision Canada
Cascadia Announces Fully Subscribed C$3M Non-Brokered Private Placement
VANCOUVER, BC, /CNW/ - Cascadia Minerals Ltd. (" Cascadia") (TSXV: CAM) (OTCQB: CAMNF) is pleased to announce a non-brokered private placement (the " Offering") of up to $3,000,000. The Offering will consist of the sale of 13,043,478 common shares (each a " FT Share") at a price of $0.23 per FT Share for total gross proceeds of approximately $3,000,000. Each FT Share will qualify as a "flow-through share" within the meaning of subsection 66(15) of the Income Tax Act (Canada) (" Tax Act"). "This financing will allow us to significantly expand our planned work program at the Carmacks Copper project this fall, once the transaction with Granite Creek Copper closes," stated Graham Downs, Cascadia's President and CEO, "We're very encouraged by the exploration potential at Carmacks, and plan to drill up to 4,000 m this fall at near-surface sulfide targets adjacent to the existing mineral resource." The gross proceeds from the issuance and sale of the FT Shares will be used for "Canadian exploration expenses" that qualify as "flow-through critical mineral mining expenditures", as both terms are defined in the Tax Act (the " Qualifying Expenditures"). The Qualifying Expenditures will be incurred on or before December 31, 2026, and will be renounced to the subscribers with an effective date no later than December 31, 2025, in an aggregate amount not less than the gross proceeds raised from the issuance of the FT Shares. The proceeds from the Offering will be used for critical minerals exploration primarily at the Carmacks Copper project, following the completion of Cascadia's transaction with Granite Creek Copper Ltd., announced June 9, 2025, and anticipated to close in early August. A portion of proceeds from the Offering may be used for exploration at Cascadia's Catch, Macks, Milner, and Idaho Creek properties. The Offering is scheduled to close on or before August 15, 2025, and is subject to regulatory acceptance. Finder's fees may be paid in accordance with TSX Venture Exchange policies. All securities issued as part of the Offering will be subject to a hold period in Canada of four months plus one day from the closing of the Offering. About Cascadia Cascadia is a Canadian junior mining company focused on making new copper and gold discoveries the Yukon and British Columbia. Cascadia's flagship Catch Property in the Yukon hosts a brand-new copper-gold porphyry discovery where inaugural drill results returned broad intervals of mineralization, including 116.60 m of 0.31% copper with 0.30 g/t gold. Catch exhibits extensive high-grade copper and gold mineralization across a 5 km long trend, with rock samples returning peak values of 3.88% copper, 1,065 g/t gold, and 267 g/t silver. Cascadia and Granite Creek Copper Ltd. recently announced a merger, whereby Cascadia will acquire all outstanding shares of Granite Creek by way of a plan of arrangement (see news release dated June 9, 2025). Granite Creek's flagship asset is the Carmacks Project in the high-grade Minto copper district in Yukon Territory, Canada. The project is located south of and within 35km of the past-producing Minto mine, which was recently acquired by Selkirk Copper Mines. The Carmacks Project hosts a Measured and Indicated Resource containing 651 Mlbs of copper and 302 koz of gold (36.3 million tonnes grading 0.81 % copper, 0.26 g/t gold, and 3.23 g/t silver and 0.01% molybdenum) with a 2023 PEA demonstrating positive economic potential ($230.5 M Post-Tax NPV (5%) and 29% Post-Tax IRR). QA/QC The technical information in this news release has been approved by Andrew Carne, VP Corporate Development for Cascadia and a qualified person for the purposes of National Instrument 43-101. Prospecting grab samples referenced in this release represent highlight results only, and include results from 2024 and previous seasons. Below detection values for copper, gold and silver have been encountered in grab samples in these target areas. For more details on Catch drilling and prospecting results, please see Cascadia's News Releases dated July 25, 2024, and July 19, 2023. The Mineral Resources disclosed here are referenced from the 2023 Technical Report on the Carmacks Project Preliminary Economic Assessment, authored by SGS Canada Inc. for Granite Creek Copper, and have not been independently reviewed by Cascadia. Pricing for the Carmacks Project PEA base case economic analysis was US $3.75/lb copper, US $1,800/oz gold, and US $22/oz silver at an exchange rate of $1:US$0.75. For more details on the economic analysis, refer to the 2023 Technical Report on the Carmacks Project Preliminary Economic Assessment, authored by SGS Canada Inc. for Granite Creek Copper. The results of the Carmacks preliminary economic assessment are preliminary in nature, it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized. On behalf of Cascadia Minerals Ltd. Graham Downs, President and CEO NEITHER THE 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 NEWS RELEASE. Cautionary note regarding forward-looking statements: This press release may contain "forward-looking information" within the meaning of applicable securities laws. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this press release. The Company undertakes no obligation to update forward-looking information, except as required by securities laws. SOURCE Cascadia Minerals Ltd.
