Medallion Announces Private Placements of Approximately $600,000
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Dec. 16, 2009) – Medallion Resources Ltd (“Medallion” or the “Company”) (TSX VENTURE:MDL) announces that, theme to TSX Venture Exchange (“Exchange”) approval, it has organised a non-brokered in isolation chain of up to 1.75 million units (each a “Unit”) at $0.175 per Unit for sum deduction of up to $306,250 (the “Offering”). Each Unit consists of one usual share and one negotiable usual share squeeze aver (a “Warrant”). Each Warrant shall be exercisable to take one usual share at an practice cost of $0.30 for a duration of twenty-four months from shutting of the Offering (“Closing Date”). Medallion has concluded to compensate a money finders’ cost of 9% of the sum deduction lifted from purchasers introduced to the Company by finders and accede to finders’ warrants next to to 9% of the Units sole to such purchasers. Each finders’ aver shall be exercisable to take one usual share at an practice cost of $0.175 per share for a duration of twenty-four months from the Closing Date.
Medallion additionally announces which it has arranged, theme to Exchange approval, a non-brokered in isolation chain of up to 1.75 million flow-through shares (each a “Share”) for sum deduction of up to $306,250 (the “Flow-Through Offering”). Medallion has concluded to compensate a money finders’ cost of 9% of the sum deduction lifted from, and accede to finders’ warrants next to to 9% of the series of Shares sole to, purchasers introduced to the Company by the finders. Each finders’ aver shall be exercisable to take one non-flow-through usual share at an practice cost of $0.175 per share for a duration of twenty-four months from the Closing Date.
All bonds released to purchasers and finders underneath the Offering and Flow-Through Offering will be theme to a 4 month reason duration from the Closing Date, pursuant to bonds legislation and the policies of the Exchange.
The deduction of the Offering and Flow-Through Offering will be used for the scrutiny of the Company’s Eden REE Project, merger of brand brand new properties and operative capital.
Medallion focuses on scrutiny for rare-earth elements (REE’s), lithium and alternative metals compulsory by the brand brand new energy-saving technologies. The Company’s initial project, voiced 1 December 2009, is the Eden REE plan in Western Manitoba.
ON BEHALF OF THE BOARD OF DIRECTORS
William H Bird, PhD, PGeo, President & CEO
Company Management, takes full shortcoming for content, rebuilt this headlines release. Some of the statements contained in this recover have been forward-looking statements, such as estimates and statements which report the Company’s destiny scrutiny and financing plans, objectives or goals, together with difference to the outcome which the Company or government expects a settled condition or outcome to occur. Since forward-looking statements residence destiny events and conditions, by their really nature, they engage fundamental risks and uncertainties. Actual formula in any box could talk about materially from those now expected in these statements. Such risks embody expectations which might be lifted by deliberating intensity acquisitions. Also, in sequence to ensue with the Company’s scrutiny plans, one more appropriation is required and, depending on marketplace conditions, this appropriation might not be stirring on a report or on conditions which promote the Company’s plans.
The TSX Venture Exchange has not reviewed and does not accept shortcoming for the endowment or correctness of this release.
