(TheNewswire)
Vancouver, BC / TheNewswire / November 10, 2017 - Meadow Bay Gold Corporation (“
Meadow Bay Gold ” or the “ Company ”) (TSXV:MAY) (OTCQB:MAYGF)
(Frankfurt: 20M, WKN A1C3DN) announces that further to its news releases of September 27, October 19, and November 8, 2017, it has
closed the first tranche of the non-brokered private placement (the “ Private Placement ”) and
has issued 16,330,000 units of the Company (the “ Units ”), each Unit consisting of one
common share of the Company (a “ Share ”) and one-half of one Share purchase warrant (each
whole warrant, a “ Warrant ”), at a price of $0.05 per Unit to raise aggregate gross proceeds
of $816,500. Each Warrant entitles the holder thereof to purchase one additional Share at an exercise price of $0.10 per Share for
a period of two years from the date of issuance of the Warrant.
The Company paid cash finder’s fees in the amount of $43,050 and issued warrants (“ Finder’s Warrants ”) to purchase up to 861,000 Shares, the Finder’s Warrants having the same terms as the
Warrants.
All securities issued under the Private Placement are subject to a four month hold period expiring on March 11,
2018.
The proceeds raised from the Private Placement will be used for general corporate and working capital
requirements.
Insiders, each being a "related party" of the Company (as such term is defined under Multilateral Instrument
61-101 - Protection of Minority Security Holders in Special Transactions ("
MI 61-101 ")), have subscribed for a total of 2,700,000 Units, as follows: Christopher Crupi
(President, CEO and a director of the Company), for 2,000,000 Units; and Robert Dinning (Chairman and a director of the Company),
for 700,000 Units. The Company relied upon exemptions from the valuation and minority shareholder approval requirements of MI
61-101 available pursuant to sections 5.5(b) and 5.7(1)(b) of MI 61-101, as the Company is not listed on a senior specified stock
exchange and the Private Placement raised proceeds of less than $2,500,000.
For further information please contact:
Meadow Bay Gold Corporation www.meadowbaygold.com
Robert Dinning, Chairman and Director
Tel: 604-641-4450
Matthew Harrington, Launch IR
Tel: 613-882-7467
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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