Medallion Resources Ltd. (TSXV:MDL, OTCQX:MLLOF) announced it has arranged a non-brokered private placement of up to 10,000,000 units (each a “Unit”) at a price of $0.03 per Unit for gross proceeds of up to $300,000.
The proceeds of the Offering will be used for a pilot-scale metallurgical test program including locked cycle tests, cerium removal and phosphate by-product development, customer development work, and jurisdiction and site analysis for the Company’s proposed rare-earth extraction plant, and working capital.
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