Key Developments: Meadow Bay Gold Corp (MAY.TO)
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Latest Key Developments (Source: Significant Developments)
Meadow Bay Gold Corp Closes Private Placement
Meadow Bay Gold Corp announced that it has completed a non-brokered private placement of 2,530,910 units for gross proceeds of $513,000. Of the 2,530,910 units, 2,190,000 units were issued at a price of $0.20 per unit, and 340,910 units were issued at a price of $0.22 per unit to insiders of the Company. Insiders participating in this private placement include the CEO, CFO, Chief Geologist, and a director of the Company. Each unit consists of one common share and one common share purchase warrant exercisable for a period of four years from the closing at a price of $0.30 per share in the first and second years, $0.35 in the third year and $0.40 in the fourth year. The securities will be subject to a four-month hold period as required under applicable securities laws. A finder's fees was paid to Canaccord Genuity Corp. on a portion of the gross proceeds. The net proceeds of the financing will be used to conduct exploration work at Meadow Bay Gold's one hundred percent owned Atlanta Gold Mine project in Nevada and for general working capital. Full Article
Meadow Bay Gold Corp Announces Change of CEO
Meadow Bay Gold Corp announced the resignation of its Interim CEO, Alexander Khutorsky. Robert Dinning, Chairman and former CEO, will resume his duties as CEO. Mr. Khutorsky is returning to the Investment Banking Industry but will remain a Director of the Company. Full Article
Meadow Bay Gold Corp Closes Private Placement
Meadow Bay Gold Corp announced that it has completed a non-brokered private placement of a total of 1,945,200 units at a price of $0.30 per unit for gross proceeds of $583,560. Each unit consists of one common share and one non-transferable common share purchase warrant entitling the holder to purchase one common share of the Company at a price of $0.40 per share for a period of 3 years from closing, provided that, in the event that the closing price of the common shares is equal to or greater than $1.00 for twenty consecutive trading days, the Company will have the right to accelerate the expiry date of the warrant to 30 days following the date of notice thereof given to the holders. The securities will be subject to a four-month hold period as required under applicable securities laws. Full Article
Meadow Bay Gold Corp Announces Appointment of Alexander Khutorsky As CEO
Meadow Bay Gold Corp announced that Alexander Khutorsky has joined the Company's Board of Directors and has been appointed interim Chief Executive Officer. Mr. Khutorssky replaces Mr. Robert Dinning who is stepping down as CEO but will remain Chairman of the Board of Directors. Full Article
Meadow Bay Gold Corp Receives Conditional Approval For Graduation To Toronto Stock Exchange
Meadow Bay Gold Corp announced that it has received conditional approval for its common shares to be listed on the Toronto Stock Exchange (TSX), subject to customary deliverables. Meadow Bay Gold's common shares will commence trading on the TSX, once final approval is received, under the symbol MAY. In connection with the listing on the TSX, the Corporation will apply to voluntarily delist its common shares from the TSX Venture Exchange, such delisting to be effective as of the date the common shares commence trading on the TSX. Full Article
Meadow Bay Gold Corp Closes $2.5 Million Private Placement Financing
Meadow Bay Gold Corp announced that it has closed a non-brokered private placement financing of $2.5 million consisting of the issuance of 2.5 million common shares priced at $1.00 . There are no warrants attached to the common shares. Compensation was paid to certain finders. The financing is subject to TSXV approval and the shares will bear the four-month standard hold period. The funds generated will be used to continue advancement of the Meadow Bay Gold's former producing Atlanta Mine in Nevada including ongoing exploration and development activities. Full Article
Meadow Bay Gold Corp Enters Into Purchase Agreement Atna Resources Ltd.'s NBI Claim Group
Meadow Bay Gold Corp announced that it has signed a purchase agreement with Atna Resources, Ltd. for claims in the Atlanta Mining District, Lincoln County, Nevada. Atna Resources' NBI claim group consists of 135 unpatented mining claims contiguous with claims of the Atlanta Gold Mine acquired by Meadow Bay Gold in March of this year. The terms of the purchase agreement include a $150,000 initial payment to Atna Resources on signing and the issuance of 400,000 shares of Meadow Bay Gold common stock. An additional $100,000 shall be paid to Atna Resources on the first anniversary. The claims are subject to a 3% NSR royalty of which 1% can be purchased by Meadow Bay for $1,000,000 prior to the fifth anniversary. Full Article
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