Madison Metals Declares $2.0 Million Non-Brokered Personal Placement

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TORONTO, Dec. 10, 2024 (GLOBE NEWSWIRE) — Madison Metals Inc. (“Madison” or the “Firm”) (CSE: GREN) (OTCQB: MMTLF) (FSE: 4EF0) is happy to announce that it intends to finish a non-public placement financing consisting of the sale of as much as 6,000,000 items (the “Models”) within the capital of the Firm at a value of CDN$0.30 per Unit for combination gross proceeds of as much as CDN$2,000,000 (the “Providing”).

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Every Unit consists of 1 (1) widespread share (a “Frequent Share”) and one-half (1/2) widespread share buy warrant (every entire widespread share buy warrant, a “Warrant”). Every full Warrant entitles the holder thereof to buy one Frequent Share within the capital of the Firm for a value of $0.45 for a interval of eighteen (18) months from the date of the closing of the Providing.

Concurrently with closing of the Providing, the Firm additionally intends to settle debt owed to numerous collectors in an combination quantity of $300,000 by way of the issuance of Frequent Shares at a deemed value of $0.30 per Frequent Share. Two of the collectors, Duane Parnham and Roger Laine, are insiders of the Firm, and the issuance of securities to the insiders might be thought of to be a “associated celebration transaction” topic to the necessities of TSXV Coverage 5.9 and Multilateral Instrument 61-101 – Safety of Minority Safety Holders in Particular Transactions (“MI 61-101“). The Firm intends to depend on exemptions from the formal valuation and minority shareholder approval necessities offered underneath sections 5.5(a) and 5.7(a) of MI 61-101 on the idea that worth of the securities issued to the insiders is not going to exceed 25% of the Firm’s market capitalization.

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The Firm intends to make use of the proceeds from the Providing primarily to start drilling actions on the Firm’s Howells Lake Antimony Gold Venture and for basic and administrative bills.

No finders’ charges are payable in reference to the Providing.

About Madison Metals Inc.

Madison Metals Inc. is a forward-focused crucial minerals and vitality firm, powering the way forward for clear vitality and superior applied sciences. Backed by seasoned administration experience and prime useful resource belongings, Madison Metals is strategically positioned to fulfill the rising world demand for crucial minerals. By leveraging its technical, managerial, and monetary experience, the corporate upgrades and creates high-value initiatives whereas joint venturing non-core belongings to generate money stream, driving progress and delivering worth for its shareholders.

Further details about Madison Metals Inc. may be discovered at madisonmetals.ca and on the Firm’s SEDAR+ profile at sedarplus.ca.

For additional info, please contact:
Duane Parnham
Govt Chairman & CEO
Madison Metals Inc.
+1 (416) 489-0092
ir@madisonmetals.ca

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Media inquiries:
Adam Bello
Supervisor, Media & Analyst Relations
Primoris Group Inc.
+1 (416) 489-0092
media@primorisgroup.com

Neither the Canadian Securities Trade nor CIRO accepts duty for the adequacy or accuracy of this launch.

Ahead-looking Statements

This information launch incorporates “forward-looking info” inside the which means of relevant securities legal guidelines. All statements contained herein that aren’t clearly historic in nature might represent forward-looking info. In some circumstances, forward-looking info may be recognized by phrases or phrases resembling “might”, “will”, “anticipate”, “seemingly”, “ought to”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “imagine” or the destructive of those phrases, or different comparable phrases, expressions, and grammatical variations thereof, or statements that sure occasions or circumstances “might” or “will” occur, or by discussions of technique. Ahead-looking info contained on this press launch consists of, however will not be restricted to, statements regarding the phrases and timing of the non-public placement described on this press launch and the anticipated makes use of of the proceeds raised from such non-public placement.

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The place the Firm expresses or implies an expectation or perception as to future occasions or outcomes, such expectation or perception is predicated on assumptions made in good religion and believed to have an inexpensive foundation. Such assumptions embody, with out limitation, that: the Firm will obtain all crucial approval required in an effort to full the issuance of the securities pursuant to the non-public placement described in on this press launch; that the Firm will have the ability to start the exploration actions it intends to make use of the proceeds from the Providing for; and that there might be ample curiosity from potential traders in an effort to full the non-public placement on the phrases as described herein or in any respect.

Nevertheless, forward-looking statements are topic to dangers, uncertainties, and different elements, which may trigger precise outcomes to vary materially from future outcomes expressed, projected, or implied by such forward-looking statements. Such dangers embody, however aren’t restricted to, the danger that the Firm will be unable to proceed with the issuance of items on the phrases described on this press launch or in any respect; and that the Firm is not going to have the mandatory assets, monetary or in any other case, to conduct the deliberate exploration actions referenced on this press launch.

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Accordingly, undue reliance shouldn’t be positioned on forward-looking statements and the forward-looking statements contained on this press launch are expressly certified of their entirety by this cautionary assertion. The forward-looking statements contained herein are made as on the date hereof and are primarily based on the beliefs, estimates, expectations, and opinions of administration on such date. The Firm doesn’t undertake any obligation to replace publicly or revise any such forward-looking statements or any forward-looking statements contained in another paperwork whether or not because of new info, future occasions or in any other case or to elucidate any materials distinction between subsequent precise occasions and such forward-looking info, besides as required underneath relevant securities regulation. Readers are cautioned to contemplate these and different elements, uncertainties, and potential occasions rigorously and to not put undue reliance on forward-looking info.

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