MONTREAL, Dec. 09, 2025 (GLOBE NEWSWIRE) -- Midland Exploration Inc. ("Midland") (TSXV:MD) is pleased to announce that it has completed the closing of a non-brokered private placement by issuing a total of 4,972,876 common shares of Midland that qualify as "flow-through shares" within the meaning of subsection 66(15) of the Income Tax Act (Canada) and section 359.1 of the Taxation Act (Québec) (each a "FT Share") at $0.56 per FT Share and 550,000 common shares (each a "Share") at $0.46 per Share, for total gross proceeds of $3,037,811 (the "Private Placement"). The securities issued in connection with the Private Placement are subject to a four-month-and-one-day statutory hold period expiring on April 10, 2026.

Centerra Gold Inc. ("Centerra") has exercised its right to maintain its ownership to approximately 9.9% by acquiring 550,000 Shares. This right had been granted to Centerra on July 25, 2025 pursuant to an Investor Rights Agreement with Midland.

Midland will use the Private Placement proceeds to fund exploration works on its properties located in Quebec and for general corporate purposes.

Insiders have participated in the Private Placement and were issued 443,500 FT Shares, for total gross proceeds of $348,360. Such participation in the Private Placement is considered a "related party transaction" as defined in Regulation 61-101 respecting Protection of Minority Security Holders in Special Transactions ("Regulation 61-101"). Midland relied on the exemptions from the formal valuation and minority shareholder approval requirements of Regulation 61-101 contained in sections 5.5(a) and 5.7(1)(a) of Regulation 61-101 as neither ...