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MIDAS MINERALS LTD — Capital/Financing Update 2022
Mar 23, 2022
65345_rns_2022-03-23_71cc0053-9146-4382-8a70-24fc9ca0a64b.pdf
Capital/Financing Update
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ASX / MEDIA ANNOUNCEMENT Thursday, 24 March 2022
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RELEASE FROM ESCROW
Midas Minerals Ltd ( " Midas ", or " the Company ") (ASX: MM1) advises that in accordance with ASX Listing Rule 3.10A, the following fully paid ordinary shares (Shares) will be released from escrow:
| Class | Number | Date of release |
|---|---|---|
| Shares | 1,000,000 | 29 March 2022 |
| Options with an exercise price of$0.20 each and expiring on 29March 2024. | 200,000 | 29 March 2022 |
The Company will apply for quotation via Appendix 2A on the above Shares no later than 5 days after the date of release. There will be no change to the Company's issued capital as a result of the above.
Appendix 1 sets out the remaining securities which are subject to escrow in the Company.
ENDS
The Board of Midas Minerals Ltd authorised this release.
For more information:
Nick Katris Nathan Ryan Executive Director Media / Investor Relations E: [email protected] E: [email protected]
About Midas
Midas Minerals is a junior mineral exploration company listed on the ASX on 7 September 2021. Midas is based in Western Australia, targeting economic mineral deposits.
Midas’ primary focus is gold; however, our projects are also prospective for nickel, PGE, copper, silver and lithium.
The Company has two projects located at Leinster and Mt Magnet areas of Western Australia. Midas’ projects, Weebo and Challa, have prospective targets areas that remain essentially unexplored due to prior fragmented landholdings or private ownership. Midas’ mineral exploration projects are also located proximal to infrastructure and within 60km of mining towns and processing plants.
Midas’ Board and management have extensive experience in mineral discovery and a proven track record of significant gold discoveries and mine development.
Midas Minerals Limited | Ground Floor, 24 Outram St, West Perth WA 6005 P: +61 8 6283 6595 | E: [email protected] www.midasminerals.com
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Appendix 1
The Company confirms the following securities remain subject to restriction pursuant to the ASX Listing Rules for the period outlined below:
| Class | Number | Restriction Period Ends |
|---|---|---|
| Shares | 9,539,009 | 24 months from the date ofofficial quotation |
| Options with an exercise price of$0.25 each and expiring 3 yearsfrom Admission | 3,000,000 | 24 months from the date ofofficial quotation |
| Options with an exercise price of$0.20 each and expiring on 29March 2024 | 400,000 | 24 months from the date ofofficial quotation |
There are no securities subject to voluntary escrow.
2
ASX:MM1