08:50 AM EDT, 07/28/2025 (MT Newswires) -- Midland Exploration ( MIDLF ) , trading shy of 52 week highs, said Monday that it raised $6.1 million after closing two private placements.

The company raised near $5.1 million from the sale of 10.65 million flow-through shares at $0.475 apiece. Centerra Gold ( CGAU ) participated in that offering and the company now holds a 9.9% stake in Midland.

Midland also closed a concurrent non-brokered private placement of 3,181,819 shares at $0.33 each for about $1 million in proceeds.

The company said it will use the funds to advance targets on its gold exploration projects in Abitibi, James Bay, and northern Quebec over the next 18 months.

The company said it expects to receive refundable tax credits of 22.5% on its gold projects.

Midland's share price gained 2.7% on Friday to $0.375 on the TSXV, leaving it shy of a 52 week high $0.39.