03:47 PM EDT, 03/12/2024 (MT Newswires) -- Madison Metals Inc. ( MMTLF ) announced Tuesday that it will be proceeding with a private placement financing consisting of the sale of up to 10 million units in the capital of the company at a price of $0.35 per unit for aggregate gross proceeds of a minimum of $1 million and a maximum of $3.5 million.

Each unit consists of one common share and one-half common share purchase warrant.

Each full warrant entitles the holder thereof to purchase one Common Share in the capital of the company for a price of $0.50 for a period of eighteen months from the date of the closing.

Madison Metals Inc. ( MMTLF ) is an upstream mining and exploration company focused on sustainable uranium production in Namibia and Canada.

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