Apr 30, 2013 (ACCESSWIRE-TNW via COMTEX) — TORONTO, CANADA – April 30, 2013 – Mr. George A. Brown, President of MacMillan Minerals Inc., /quotes/zigman/10214476 CA:MMX -16.67% is pleased to announce that the Company has received permission from the TSX Venture Exchange to extend the close of the current financing to on or by May 30, 2013.
The financing is comprised of up to 6,250,000 units priced at $0.04 per unit. Each unit consists of one common share and one common share purchase warrant exercisable for a period of two years from closing date. Each warrant entitles the holder to purchase one additional common share at $0.06 per common share for the first year and at $0.10 per common share for the second year.
The price of the unit and the exercise price of the warrant in the first year is below the usual minimum pricing guidelines of the TSX Venture Exchange and fall within the pricing guidelines in effect due to the TSX Venture temporary relief provisions extended until August 31, 2013 by a bulletin dated April 12, 2013.
The Company has thus far received subscriptions for 4,587,500 units ($183,500) representing over 73% of the maximum amount of the private placement financing of 6,250,000 units ($250,000). The subscriptions include 1,050,000 units ($42,000) from Directors and Senior Officers of the Company representing 23% of all subscriptions.
The final closing of the financing is subject to the approval of the TSX Venture Exchange. In accordance with applicable securities laws, all securities issued pursuant to the financing are subject to a hold period of four months from closing date. Finders’ fees in cash, shares, or units subject to regulatory approval may be issued in connection with completion of this financing.
For additional information regarding the Company or this financing, you may contact the President by phone at (416) 867-1101 or by email at [email protected]
MacMillan is an exploration company with a focus on gold and silver exploration programs on numerous properties in Mexico. Additional information on the Company can be viewed at www.sedar.com
For additional information, contact: Tel: (416) 867-1101 Fax: (416) 867-1222
Email: [email protected]
Neither The TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
