Mahdia Gold Corp. (fka MHGPF)

[CansoSpaceMan]

Mahdia Gold Corp Announces Private Placement
http://at.marketwire.com/accesstracking/AccessTrackingLogServlet?docid=0723766001sourceType=1http://www.ccnmatthews.com/logos/20110602-mahdia2.jpg

TORONTO, ONTARIO -- (Marketwire) -- 08/29/11 -- Mahdia Gold Corp is a publicly listed on the Canadian National Stock Exchange (CNSX) under the symbol MGD. The company's website is: www.mahdiagold.com. The website of the CNSX exchange is www.cnsx.ca.

Mahdia Gold Corp (CSNX:MGD) is pleased to announce a private placement of a minimum of 7,500,000 shares, for an aggregate subscription price of $3,000,000, to a maximum of 20,000,000 shares for an aggregate subscription price of $8,000,000.

Each unit consists of one share at a price of $0.40 per share and one half warrant. One whole warrant is required to exercise into one share for an exercise term of two years with an exercise price of $0.60. The warrants will be subject to forced conversion if the 10-day volume-weighted average trading price exceeds $0.72 during the period starting 4 months from closing.

A commission will be paid that is equal in number to 8% of the number of Shares sold pursuant to the Offering OR; A commission that is equal in number to 6% of the number of Shares sold pursuant to the Offering and 2% of the gross Proceeds of the Offering.

The net proceeds of the offering will be used for work associated with Omai gold mine and for work on the company's other mineral interests in Guyana and general working capital purposes.

Mahdia Gold Corp currently has 92,024,020 shares outstanding.

NO SECURITIES REGULATORY AUTHORITY OR STOCK EXCHANGE HAS APPROVED OR DISAPPROVED OF THE INFORMATION CONTAINED IN THIS PRESS RELEASE.

Contacts:
Mahdia Gold Corp
Alan Zaakir
[e-mail]


Source: Marketwire (August 29, 2011 - 5:45 PM EDT)

News by QuoteMedia