NOT FOR UNITED STATES DISTRIBUTION OR FOR UNITED STATES DISTRIBUTION

VANCOUVER, BC / ACCESSWIRE / June 4, 2021 / Midnight Sun Mining Corp. (the “Company” or “Midnight Sun”) (TSX Venture Exchange: MMA, Financial) is pleased to announce a non-brokered private placement of up to 3,000,000 units (the “Units”) at a price of $ 0.35 per unit for gross proceeds of $ 1,050,000 ( the “offer”). Each Unit will consist of one (1) common share (“Common Share”) of the capital of the Company and one (1) common share purchase warrant (a “warrant”). Each warrant will allow its holder to purchase one common share of the Company for a period of twenty-four months from the closing of the offering at an exercise price of $ 0.50. The Company intends to close the Offer as soon as possible.

The net proceeds of the Offering will be used by the Company as general working capital.

The Offering, including the future issuance of Common Shares and Warrants, is subject to final approval by the TSX Venture Exchange. All securities issued will be subject to a four month and one day hold period in accordance with applicable securities laws.

Grant of stock options

Midnight Sun has granted stock options to purchase a total of 550,000 common shares of the Company, at an exercise price of $ 0.31 per share, to certain consultants working for the Company. Society. Stock options are granted and vested in accordance with Midnight Sun’s 10% stock option plan. 350,000 of these stock options expire twelve months after the issue date and 200,000 expire five years after the issue date.

ON BEHALF OF THE BOARD OF DIRECTORS OF MIDNIGHT SUN MINING CORP.

Al Fabbro
President and CEO

For more information, contact:

Al Fabbro
Phone. : +1 604 351 8850

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATORY SERVICES PROVIDER (AS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

These offered securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “US Securities Act”) and may not be offered or sold in the United States or in, or for for the benefit of United States persons (as defined in Regulation S of the US Securities Act) in the absence of US registration or an applicable exemption from US registration requirements. This press release does not constitute an offer to sell securities in the United States.

This press release includes certain statements which may be considered “forward-looking statements”. All statements contained in this press release, other than statements of historical fact, the intended completion of the offering and the intended use of the products are forward-looking statements. Although the Company believes that the expectations expressed in these forward-looking statements are based on reasonable assumptions, these statements are not guarantees of future performance and actual results or developments may differ materially from those of forward-looking statements. Factors that could cause actual results to differ materially from those of forward-looking statements include changes in market conditions, unsuccessful exploration results, changes in commodity prices, unforeseen changes in key management personnel and general economic conditions. Mineral exploration and development are inherently risky activities. Therefore, actual events may differ materially from those projected in forward-looking statements. This list is not exhaustive of the factors that could affect the Company’s forward-looking statements. These and other factors should be carefully considered and readers should not place undue reliance on the Company’s forward-looking statements. The Company does not undertake to update any forward-looking statements that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

SOURCE: Midnight Sun Mining Corp.

See the source version on accesswire.com:
https://www.accesswire.com/650400/Midnight-Sun-Mining-Corp-Announces-Private-Placement



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