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Published by Will Owen,
Editor
Global Mining Review,
Friday, 03 February 2023 15:00
Madison Metals Inc. has announced the exercise of all remaining warrants with an expiration of 26 January 2023, for a total exercise of 3.83 million warrants at a strike price of CAN$0.35, adding a total of CAN$1.34 million to the company treasury.
Duane Parnham, Executive Chairman and CEO of Madison Metals, comments:“I want to thank our existing shareholders for their continued support of Madison Metals. We are pleased to add this capital to the Company’s already strong treasury, and we are tremendously excited for the future of the company. Madison is stronger today than it was six months ago and we have managed to keep dilution to a minimum, having only 23.81 million shares issued and outstanding.”Additionally, in connection with the appointment of Ryan Thompson as Chief Strategy Officer, Madison grants 75 000 shares of common stock in accordance with the company’s agreement with Thompson.Further, in connection with the appointment of Canadian investor relations firm Investor Cubed Inc., Madison grants 75 000 shares of common stock in accordance with the company’s agreement with Investor Cubed.Madison has also granted 500 000 stock options to management and consultants at CAN$0.55 in accordance with the company’s stock option plan. The options carry a term of five years and vest immediately.
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