Published: March 21, 2016 |

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Midas Gold Corp. has completed its offering of senior unsecured convertible notes issued by a wholly owned subsidiary of the company and common shares, raising total gross proceeds of C$55,204,000.

“We are pleased to have completed this offering of shares and notes. We also appreciate the written support of our shareholders, which allowed us to accelerate the closing of the offering, and the participation of certain existing shareholders in the offering. Through this offering, we are now positioned to continue to advance the world class Stibnite Gold Project with certainty of funding,” said Stephen Quin, president and CEO of Midas Gold Corp.

“We are excited to play an important role in the development of one of North America’s largest, highest quality gold projects. With the funding provided by Paulson and the company’s existing shareholders, the team at Midas Gold can continue to advance the Stibnite Gold Project through the regulatory process, completion of a feasibility study and into site restoration and development,” said Victor Flores, partner, Paulson & Co. Inc.

In conjunction with the completion of the offering, Midas Gold has appointed Victor Flores and Marcelo Kim, both partners at Paulson, to its board of directors. In order to accommodate these appointments, Wayne Hubert and John Wakeford have stepped down from the board.

“On behalf of Midas Gold, we thank John and Wayne for their invaluable contributions to the creation and advancement of Midas Gold over the past five years. We welcome Victor and Marcelo to the board and look forward to working with them on this next important phase of the company’s development,” said Peter Nixon, chairman of the board of Midas Gold Corp.

Midas Gold will use the proceeds from the offering for permitting and feasibility studies for the Stibnite Gold Project and for working capital and general corporate purposes.

To read more details about this transaction, CLICK HERE

To stop by Midas Gold’s website, CLICK HERE

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