(via Thenewswire.ca)
TORONTO, CANADA - June 3, 2013 - Mr. George A. Brown, President of MacMillan Minerals Inc., (TSX-V: MMX) is pleased to announce that the Company has filed with the TSX Venture Exchange for final acceptance of a private placement financing. The financing, subject to regulatory approval, consists of 4,587,500 units at $0.04 for proceeds of $183,500. Each unit consists of one common share and one full two year warrant exercisable at $0.06 during the first year and exercisable at $0.10 during the second year. Three insiders subscribed for 1,050,000 units representing $42,000 or 22.9% of the financing.
The following shares and warrants were issued as a result of the financing:
Date Number of shares Number of warrants Restricted Until Warrant Expiry
Feb. 01, 2013 1,600,000 1,600,000 June 02, 2013 Feb. 01, 2015
Feb. 11, 2013 950,000* 950,000* June 12, 2013 Feb. 11, 2015
Mar. 13, 2013 1,700,000** 1,700,000** July 14, 2013 Mar. 13, 2015
Mar. 28, 2013 337,500 337,500July 29, 2013Mar. 28, 2015
*Includes 450,000 shares and 450,000 warrants issued to two directors
**Includes 600,000 shares and 600,000 warrants issued to a former director
The financing has been approved by the three directors that do not have a direct interest in the private placement, who also represent a majority of the board.
The Company currently has 59,664,875 common shares issued and outstanding including those issued in this financing.
The use of proceeds is approximately as follows:
-Mexico mining concession renewal fees $37,800
-Mexico exploration property costs (consulting, assay, legal, etc) $46,400
-Printing, filing, and mailing for Annual Special and General Meeting $11,800
-renewal of directors and officers liability insurance $ 8,600
-outstanding legal fees $30,000
-listing fees $10,600
-salaries and consulting fees to related parties $28,000
-administration (sedar filing, news releases, phone, fax, internet, etc.) $10,300
MacMillan is an exploration company with a focus on gold and silver exploration programs on numerous properties in Mexico. Additional information on the Company can be viewed at www.sedar.com
For additional information, contact: Tel: (416) 867-1101 Fax: (416) 867-1222
Email: macmillanminerals@ca.inter.net
Neither The TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
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