Vancouver – Looking to advance its Nevada and Papua New Guinea gold properties, Madison Enterprises (MNP-V) has arranged a brokered private placement of 10 million units priced at $0.20 each.
Each unit holds one share and one half warrant. A full warrant allows the holder to purchase an additional share of Madison at a price of $0.25 per share for one year. Canaccord Capital is acting as the agent for the deal and will receive a commission of 8% of the gross proceeds.
The funds are ear marked for ongoing exploration at Madison’s Mt. Kare property in Papua New Guinea and its Lewis property in central Nevada.
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