VANCOUVER, Feb. 23 /CNW/ - The Company (Midasco Capital Corp.) - (TSXV: MGC) wishes to announce that the previously announced (January 25, 2011)
non-brokered private placement of 10,000,000 Units at the price of
$0.10 per Unit has been over-subscribed and as such the Company has
agreed to increase the placement to 11,000,000 Units. 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
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.
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"
* "The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release."
SOURCE Midasco Capital Corp.
For further information:
Dustin Elford, President
Ph: (604) 669-2901