NOT FOR DISTRIBUTION TO THE UNITED STATES OR FOR DISSEMINATION IN THE UNITED STATES
Vancouver, British Columbia, May 2, 2024 — Midnight Sun Mining Corp. (the “Company” or “Midnight Sun”) (TSX-V: MMA / OTC: MDNGF) is pleased to announce that due to significant investor demand, the Company has increased the maximum gross proceeds of its previously announced non-brokered private placement (the “Offering”) from $3,300,000 to $4,400,000. Under the revised Offering, the Company intends to sell up to 20,000,000 units of the Company (the “Unit”) at a price of $0.22 per Unit.
Each Unit will consist of one common share of the Company (“Common Share”) and one Common Share purchase warrant (“Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share for a period of 36 months following the closing date of the Offering at an exercise price of $0.33
per share. The Company intends to close the Offering as soon as practicable.
The net proceeds of this offering will be used by the Company to fund exploration work on its Zambian mineral properties as well as general working capital.
Red Cloud Securities Inc. is acting as a finder in connection with the Offering.
The Offering, including the future issuance of the Common Shares and Warrants, is subject to the final approval of the TSX Venture Exchange. All securities issued will be subject to a hold period of four months and one day pursuant to applicable securities laws.
About Midnight Sun
Midnight Sun is focused on exploring our flagship Solwezi Project, located in Zambia. Situated in the heart of the Zambia-Congo Copperbelt, the second largest copper producing region in the world, our property is vast and highly prospective. Our Solwezi Project is surrounded by world-class producing copper mines, including Africa’s largest copper mining complex right next door, First Quantum’s Kansanshi Mine. Led by an experienced geological team with multiple discoveries and mines around the world to their credit, Midnight Sun intends to find and develop Zambia’s next generational copper deposit.
ON BEHALF OF THE BOARD OF MIDNIGHT SUN MINING CORP.
Al Fabbro
President & CEO
For Further Information Contact:
Adrian O’Brien
Director of Marketing and Communications
Tel: +1 604 809 6890
Em: adrian@midnightsunmining.com
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 NEWS RELEASE.
These securities being offered have not been, and will not be, registered under the United States
Securities Act of 1933, as amended (the “U.S. Securities Act”) and may not be offered or sold in the
United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities
Act) absent U.S. registration or an applicable exemption from the U.S. registration requirements. This
release does not constitute an offer for sale of securities in the United States.
This news release includes certain statements that may be deemed “forward-looking statements.” All
statements in this release, other than statements of historical facts, the expected completion of the
Offering, and the expected use of proceeds are forward-looking statements. Although the Company
believes the expectations expressed in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and actual results or
developments may differ materially from those in the forward-looking statements. Factors that could
cause actual results to differ materially from those in forward-looking statements include, changes in
market conditions, unsuccessful exploration results, changes in commodity price, unanticipated changes
in key management personnel and general economic conditions. Mining exploration and development is
an inherently risky business. Accordingly the actual events may differ materially from those projected in
the forward-looking statements. This list is not exhaustive of the factors that may affect any of the
Company’s forward-looking statements. These and other factors should be considered carefully and
readers should not place undue reliance on the Company’s forward-looking statements. The Company
does not undertake to update any forward-looking statement that may be made from time