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Meadow Bay Gold Corporation closes private placement

Last updated: 16:40 28 Jul 2016 BST, First published: 11:40 28 Jul 2016 BST

Nevada road sign
The Nevada-focused explorer raised C$356,990

Nevada-focused gold explorer Meadow Bay Gold Corporation (TSX:MAY) has closed its non-brokered private placement financing.

The fund-raising was announced in the company's news release dated June 29, 2016, and consisted of the sale of 5,949,849 units at a price of six cents per unit, raising gross proceeds of C$356,990.

Each unit comprised one common share of the company and one warrant exercisable to purchase an additional common share of the company at a price of seven cents per share for a period of five years.

The company paid finders' fees of C $10,149 in cash and issued 169,156 finder's warrants in respect of a portion of the private placement. As with the placed units, each finder's warrant entitles the holder to purchase one common share of the company at a price of seven cents per share for a period of five years. 

Meadow Bay Gold (TSX:MAY) - Investor Presentation - 23rd July

Meadow Bay Gold (TSX:MAY) - Investor Presention - 23rd July

on 24/7/15