PP in Demand! Positive sign. MEDALLION RESOURCES INCREASES PRIVATE PLACEMENT TO $1,600,000
Medallion Resources Ltd., due to strong market demand, has increased its non-brokered private placement of $1.5-million (announced Aug. 7, 2020) to gross proceeds of up $1.6-million. The revised Placement is for up to 10,666,667 units (each a "Unit"), at a purchase price of $0.15 per Unit for gross proceeds of up to $1,600,000. Each Unit will consist of one common share in the capital of the Company (a "Common Share") and one-half of a transferable Common Share purchase warrant (each whole warrant, a "Warrant"), exercisable to acquire one additional Common Share at an exercise price of $0.20 for a period of 36 months following the closing of the Placement (the "Closing Date").