MDL Medallion Resources Ltd

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES 


Medallion Resources Ltd. (TSX VENTURE:MDL)(OTCQX:MLLOF) ("Medallion" or the
"Company"), today announced that it has arranged a non-brokered private
placement of up to 6,666,667 million units (each a "Unit") at $0.15 per Unit for
gross proceeds of up to $1,000,000 (the "Offering"). Each Unit consists of one
common share and one-half of a transferable common share purchase warrant (a
"Warrant"). Each whole Warrant is exercisable to acquire one common share at an
exercise price of $0.30, for a period of 24 months from closing of the Offering
("Closing Date"). The Company expects the bulk of the financing to be raised
through the efforts of an agent working with private investors in the Arab Gulf
States. Certain Medallion Directors and Officers have arranged to partially fund
the Offering with proceeds from the sale of 1,000,000 shares of Medallion at a
price of $0.15 per share through the facilities of the TSX Venture Exchange
("the Exchange"). 


Medallion has agreed to pay a finders' fee of 8% of the gross proceeds, payable
in cash or Units, at the discretion of the finder, and will grant finders'
options equal to 8% of the Units sold by qualified finders. Each finder's option
shall be exercisable to acquire one common share of the Company at an exercise
price of $0.15 per share, for a period of 24 months from the Closing Date.  


The proceeds of the Offering will be used for financial, technical and
environmental studies for the Company's proposed rare-earth processing plant in
Oman; monazite feedstock acquisition efforts; business development; and working
capital. 


All securities issued to purchasers and finders under the Offering will be
subject to a four-month hold period from the Closing Date, pursuant to
securities legislation and the policies of the Exchange. The securities offered
have not been nor will they be registered under the United States Securities Act
of 1933, as amended, or state securities laws, and may not be offered or sold in
the United States or to an account for the benefit of US persons, absent such
registration or an exemption from registration. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy the
securities in the United States or in any jurisdiction in which such offer,
sale, or solicitation would be unlawful.


About Medallion Resources

Led by Dr Bill Bird and supported by an experienced technical team, the Company
focuses on low-cost, near-term, rare-earth production opportunities using the
rare-earth mineral monazite, which is available as a by-product from existing
mining and mineral-sands sources principally in the Indian Ocean basin.
Medallion is currently evaluating a proposal to import monazite feedstock and
produce rare-earth products at a proposed processing facility in the industrial
city of Duqm, Oman. 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-V: MDL; OTCQB: MLLOF; Frankfurt: MRD) can be found at
www.medallionresources.com.


Medallion management takes full responsibility for content and has prepared this
news release. Neither TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. Some of the
statements contained in this release are forward-looking statements, such as
statements relating to completion of the private placement, completion of
transactions under the Company's MOUs, completion of monazite feed agreements,
and estimates and statements that describe Medallion's future exploration,
production and financing plans, objectives or goals, including words to the
effect that Medallion or management expects a stated condition or result to
occur. Since forward-looking statements address future events and conditions, by
their very nature, they involve inherent risks and uncertainties, including the
risks inherent in completing complex business arrangements in international
jurisdictions and other risks outlined in the Company's management discussions
and analysis of financial results. Actual results in each case could differ
materially from those currently anticipated in these statements. Such risks
include risks of completing planned financing, and risks that expectations may
be raised by discussing potential business, acquisitions or development plans.
Also, in order to proceed with Medallion's plans, additional funding will be
necessary and, depending on market conditions, this funding may not be
forthcoming on a schedule or on terms that facilitate Medallion's plans.


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


Hamza Thindal Capital Corp.
Kam Thindal
+1.604.488.9875
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