MDL Medallion Resources Ltd

Medallion Resources Ltd (TSX VENTURE:MDL) (OTCQX:MLLOF) (FRANKFURT:MRD)
("Medallion" or the "Company") announces that its President, Don Lay, has
arranged the sale through the facilities of the TSX Venture Exchange (the
"TSXV") of 2,000,000 common shares of Medallion held or controlled by Mr. Lay at
a price of $0.20 per share (the "Disposition"). The proceeds from the
Disposition will be used by Mr. Lay to fund his subscription to a private
placement by Medallion (the "Private Placement") of 2,000,000 common shares of
Medallion at a price of $0.20 per share, for gross proceeds to Medallion of
$400,000.


As Mr. Lay or accounts he controls will be the sole subscriber to the Private
Placement, the transaction will constitute a related party transaction under
applicable securities laws, however the Private Placement will be exempt from
the formal valuation and minority shareholder approval requirements of
Multilateral Instrument 51-101 Protection of Minority Security Holders in
Special Transactions, as neither the fair market value of any shares issued to
Mr. Lay or account he controls, nor the consideration paid by Mr. Lay, will
exceed 25% of the Company's market capitalization. The Disposition and the
Private Placement on a net basis will not alter the number of common shares of
Medallion held or controlled by Mr. Lay. The plans for the Disposition have been
fully disclosed to the Board of Directors of Medallion (the "Board"), and the
terms of the Private Placement have been reviewed and approved by the Board with
Mr. Lay abstaining from the approval process. 


The common shares issued to Mr. Lay in the Private Placement will be subject to
a four-month hold period pursuant to applicable securities laws. The Private
Placement remains subject to the approval of the TSXV. 


About Medallion Resources Ltd. 

Medallion is rethinking rare earths. Headed by Dr Bill Bird and supported by an
experienced technical team, the Company believes it is well positioned to
identify and exploit the world's most promising rare-earth opportunities.
Medallion's strategy is to target large deposits amenable to straightforward
low-cost mining and metallurgical processes that lead to near-term, rare-earth
production and long-term, low-cost supply. Rare earths are used in critical
components for virtually all computing and mobile electronic products, as well
as wind turbines, electric and hybrid vehicles and strategic defense systems.
Medallion is committed to following best practices and accepted international
standards in all aspects of mining, mineral processing and the safe management
of waste materials. More about Medallion (TSX VENTURE:MDL) (OTCQX:MLLOF)
(FRANKFURT:MRD) can be found at medallionresources.com.


Medallion management has prepared this news release and takes full
responsibility for content. 


This news release contains forward-looking statements that are based on the
Medallion's current expectations and estimates. Forward-looking statements are
frequently characterized by words such as "plan", "expect", "project", "intend",
"believe", "anticipate", "estimate", "suggest", "indicate" and other similar
words or statements that certain events or conditions "may" or "will" occur, and
include, without limitation, statements regarding the completion and terms of
the Disposition and the Private Placement. Such forward-looking statements
involve known and unknown risks, uncertainties and other factors that could
cause actual events or results to differ materially from estimated or
anticipated events or results implied or expressed in such forward-looking
statements, including risks associated with changing market conditions and the
ability or willingness of any of the parties to the transactions mentioned in
this news release to complete such transactions. Any forward-looking statement
speaks only as of the date on which it is made and, except as may be required by
applicable securities laws, Medallion disclaims any intent or obligation to
update any forward-looking statement, whether as a result of new information,
future events or results or otherwise. Forward-looking statements are not
guarantees of future performance and accordingly undue reliance should not be
put on such statements due to the inherent uncertainty therein.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Medallion Resources Ltd.
Donald Lay
President
+1.604.681.9558
info@medallionresources.com


Hamza Thindal Capital Corp.
Kam Thindal
Partner
+1.888.371.9098
kam@htcapitalcorp.com

Grafico Azioni Medallion Resources (TSXV:MDL)
Storico
Da Mag 2024 a Giu 2024

Grafico Azioni Medallion Resources (TSXV:MDL)
Storico
Da Giu 2023 a Giu 2024