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Midnight Sun Mining Corp. Completes Oversubscribed Private Placement

Vancouver, British Columbia–(Newsfile Corp. – November 27, 2017) – Midnight Sun Mining Corp. (TSXV: MMA) (the “Company”) has completed the previously announced non-brokered private placement (the “Offering”) (see news release dated November 6, 2017) by issuing 9,002,708 units (the “Units”) at a price of $0.30 per Unit for gross proceeds of $2,700,812.

Each Unit purchased in the Offering consists of one common share (“Common Share”) in the capital of the Company and one Common Share purchase warrant (“Warrant”). Each Warrant entitles the holder to purchase one Common Share of the Company for a period of twelve months from closing, at an exercise price of $0.45.

Finder’s fees of $141,540 were paid in cash and 471,799 Finder’s Warrants were issued in connection with the Offering. Each Finder’s Warrant entitles the holder to purchase one common share at a price of $0.45 for a period of twelve months, expiring on November 27, 2018.

Insiders of the Company subscribed for an aggregate of 864,210 Units of the Offering.

All securities issued pursuant to the Offering, including the Common Shares underlying the Warrants, are subject to a statutory hold period which expires on March 28, 2018.

The net proceeds from the Offering will be used by the Company to fund exploration on the Solwezi Group of exploration licenses as well as general working capital.

The completion of the Offering is subject to final acceptance by the TSX Venture Exchange.

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.

ON BEHALF OF THE BOARD OF MINIGHT SUN MINING

Brett A. Richards — President & Chief Executive Officer

For Further Information Contact:

Al Fabbro
Lead Director
Tel: +1 604-351-8850

Brett A. Richards
Chief Executive Officer
Tel: +1 905-449-1500

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.

 You can view previous News Releases on the website: www.midnightsunmining.com

NOT FOR DISTRIBUTION TO THE UNITED STATES OR FOR DISSEMINATION IN THE UNITED STATES

 

Disclaimer: This is an unedited and minimally reviewed public mining company press release originally published at http://www.newsfilecorp.com/release/30787/Midnight-Sun-Mining-Corp.-Completes-Oversubscribed-Private-Placement. We have linked to our knowledge base articles from within the content of this release in order to help explain some of the terminology used and provide continuity from previous and related news coverage. You can access more in-depth mining company project reviews on our site, as well a knowledge base of articles on mineral exploration, mining and geology-related topics.

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