Madison Metals Announces Successful Initial Placement as Part of Private Financing

Madison Metals Inc. has announced a significant advancement in strengthening its financial buffer by successfully completing the first tranche of a private placement. This equity-based financing initiative comprised the sale of over 3 million units, generating a gross proceeds of over one million Canadian dollars. The composition of each unit in the placement consisted of one common share and a half warrant to purchase an additional common share at a set price. Offering a term of 18 months, this structure not only provides an immediate capital increase but also the potential for future liquidity enhancement for the company. The efforts of capital raisers were also compensated, as reflected in the payment of cash commissions and the issuance of finder's warrants. These steps demonstrate confidence in the future potential of Madison Metals and secure the support of financial intermediaries. With a waiver in accordance with the Canadian regulation for listed issuers, the assurance of the private placement was realized, with all securities issued complying with the requirements of Canadian securities laws and thus not subject to additional delays. The funds raised will be specifically used for the expansion of drilling activities in Namibia's Khan uranium field, as well as for additional acquisitions and general working capital needs. Uranium production is a core business area for Madison Metals, and the company aims to strengthen its position in this sector in Zambia and Canada. Behind Madison Metals is an experienced management team with a decades-long track record of success in the mining industry. The company now intends to leverage this expertise to generate sustainable value for their shareholders in their core markets. In summary, Madison Metals has not only acquired financial resources through the current private placement but has also laid the foundation for further expansion and growth.