09:00 AM EDT, 07/22/2025 (MT Newswires) -- Centerra Gold ( CGAU ) will hold a 9.9% stake in Midland Exploration following its participation in a $6.1 million non-brokered private placement, Midland said Tuesday.

Midland said it expects to raise $5.06 million from the sale of 10.65 million flow-through shares priced at $0.475 each and an additional $1.05 million from the sale of 3.18 million common shares at $0.33 each.

Proceeds from the flow-through share sale will be used on qualifying exploration expenses in Canada by the end of 2026.

The offering is expected to close around July 25, Midland said.