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-Underwriters of Midway Gold's units offering use over-allotment in part.

M2 EQUITYBITES-July 6, 2012--Underwriters of Midway Gold's units offering use over-allotment in part(C)2012 M2 COMMUNICATIONS

6 July 2012 -- The underwriters of Midway Gold Corp's (CVE:MDW) units offering have used in part their over-allotment option resulting in gross proceeds to the company of some USD15.7m (EUR12.7m), the Canadian precious metals firm said at the close of the deal today.

Including the partial exercise of this option, the company sold in Canada and the USA an aggregate of 12,261,562 units at USD1.28 per unit.

Each unit bundles one common share and one-half of one common share purchase warrant. Each warrant entitles the holder to buy one additional share within 18 months of the closing of the offering. The expiry of the warrants can be accelerated if certain conditions are met.

RBC Capital Markets and Haywood Securities Inc led the syndicate of underwriters, which also included Stifel Nicolaus Canada Inc.

Midway Gold plans to use the net funds raised from the units sale to advance its projects and for general corporate purposes.

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Publication:M2 EquityBites (EQB)
Date:Jul 6, 2012
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