The Conversation (0)
Medallion Resources Ltd. (TSXV:MDL,OTCQX:MLLOF,FWB:MRD) announced the sale of 2,000,000 common shares of Medallion held or controlled by Mr. Don Lay, President, at a price of $0.20 per share. Proceeds from this Disposition will be used by Mr. Lay to fund his subscription to a private placement by Medallion of 2,000,000 common shares of Medallion at a price of $0.20 per share, for gross proceeds to Medallion of $400,000.
As quoted in the press release:
The Disposition and the Private Placement on a net basis will not alter the number of common shares of Medallion held or controlled by Mr. Lay. The plans for the Disposition have been fully disclosed to the Board of Directors of Medallion (the “Board”), and the terms of the Private Placement have been reviewed and approved by the Board with Mr. Lay abstaining from the approval process.
Click here to read the Medallion Resources Ltd. (TSXV:MDL,OTCQX:MLLOF,FWB:MRD) press release
Click here to see the Medallion Resources Ltd. (TSXV:MDL,OTCQX:MLLOF,FWB:MRD) profile.
Click here for Don Lay’s Interview with Resource Investing News
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