MDNGF - Midnight Sun Mining Registers Ownership in Zambia
Vancouver, British Columbia--(Newsfile Corp. - October 24, 2019) - Midnight Sun Mining Corp. (TSXV: MMA) (the "Company" or "Midnight Sun") is pleased to report that the Company's earned 60% ownership of the Solwezi Licences has officially been transferred and registered in Zambia with the Patents and Companies Registration Agency.
The licenses are held by a Zambian registered company, Zambian High Light Mining Investment Ltd., of which Midnight Sun is now a 60% shareholder through the Company's wholly owned subsidiary, Midnight Sun (BVI) Two Corp.
The Solwezi Licences are comprised of two individual exploration licences totalling 506 square kilometres, situated in the North-Western Province of Zambia, adjacent to First Quantum's Kansanshi Mine; Africa's largest copper mining complex, on the prolific Zambia-Congo Copper Belt.
Warrant Amendment
The Company intends to extend the expiry date of certain outstanding common share purchase warrants issued pursuant to a private placement offering of the Company. The amendment of the expiry date is subject to TSXV approval.
| Number of Warrants |
| Price |
| Original Expiry |
| New Expiration Date |
| 4,458,000 |
| $0.20 |
| Oct. 31, 2019 |
| Oct. 31, 2020 |
| 2,575,000 |
| $0.20 |
| Nov. 30, 2019 |
| Nov. 30, 2020 |
| 1,301,000 |
| $0.20 |
| Dec. 18, 2019 |
| Dec. 18, 2020 |
ON BEHALF OF THE BOARD OF MIDNIGHT SUN MINING CORP.
Al Fabbro - Lead Director & Acting Chief Executive Officer
For Further Information Contact:
Al Fabbro
Lead Director
Tel: +1 604 351 8850
NEITHER THE 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 NEW RELEASE.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/49071