Centerra Gold (CGAU) will hold a 9.9% stake in Midland Exploration following its participation in a $6.1 million non-brokered private placement, Midland said Tuesday.
Midland said it expects to raise $5.06 million from the sale of 10.65 million flow-through shares priced at $0.475 each and an additional $1.05 million from the sale of 3.18 million common shares at $0.33 each.
Proceeds from the flow-through share sale will be used on qualifying exploration expenses in Canada by the end of 2026.
The offering is expected to close around July 25, Midland said.
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