MONTREAL, May 12, 2026 (GLOBE NEWSWIRE) -- Midland Exploration Inc. ("Midland" or "Corporation") (TSXV:MD) is pleased to announce that it has completed a first tranche of a non-brokered private placement by issuing 4,903,333 units of Midland at a price of $0.45 per unit for aggregate gross proceeds of $2,206,500. Each unit consists of one common share and one warrant. Each warrant entitles the holder to purchase one common share of Midland at a price of $0.65 for a period of two years from the date of issuance.
This private placement has attracted strategic investors, including Rick Rule, MJG Capital Fund, LP and Metallum Capital LLC, several of whom have previously supported Midland. Their participation further strengthens Midland's shareholder base and positions the Corporation for continued growth. Midland paid a cash finder's fee of US$20,000 [$27,372] on the first tranche to Sprott Global Resource Investments, Ltd.
The securities issued and issuable under the private placement are being offered on a private placement basis to accredited investors and other eligible purchasers (i) in all provinces of Canada pursuant to applicable prospectus exemptions, (ii) in the United States pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended, and (iii) in such offshore jurisdictions as may be agreed by Midland pursuant to available exemptions under applicable securities laws. Unless otherwise exempted, all securities issued under the private placement will be subject to a statutory hold period of four months and one day from the applicable closing date (September 12, ...
