Midasco Capital Corp. - Non-Brokered Private Placement

VANCOUVER, Jan. 25 /CNW/ - The Company (Midasco Capital Corp. - TSX-V Symbol MGC) wishes to announce that it has agreed to a non-brokered private placement of up to 10,000,000 Units at the price of $0.10 per Unit.  Each Unit will consist of one common share and one half share purchase warrant, with each warrant entitling the holder thereof to acquire one common share at an exercise price of $0.20 for a period of one year from the date of closing. If after four months and one day the common shares of the Company close at a price in excess of $0.40 for 10 consecutive trading days, then the expiry date of the warrants will be accelerated to the date that is 30 days after notice of the new expiry date is provided to the holders of the warrants.

A finder's fee in connection with this offering may be paid for any Unit subscriptions referred to the company. The finder's fee will consist of 7% cash commission and a Finder's Option equal to 7% of the number of Units referred. Each Finder's Option shall be exercisable into one Unit at a price of $0.10 per Unit and each Unit will be under the same terms as this offering for a period of one year from the date of closing. All securities issued pursuant to this non-brokered private placement will be subject to a four-month hold period from the date of closing. The non-brokered private placement will be subject to regulatory approval.

Net proceeds from this offering will be used to review its Uranium interests in the US, explore possible mineral acquisitions in Latin America and for general working capital.

Under the Company's shareholder approved 2009 Incentive Stock Option Plan 2,350,000 stock options exercisable at $0.10 per share for a period of three years have been granted to certain directors, officers and consultants of the Company and 800,000 outstanding options have been re-priced to $0.10 per share.

We seek Safe Harbor.

"Neither the TSX Venture Exchange nor its Regulatory Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release"



SOURCE Midasco Capital Corp.

For further information:

Dustin Elford, President
Ph: (604) 669-2901

Profil de l'entreprise

Midasco Capital Corp.

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