03:24 PM EST - Medallion Resources Ltd : announced that it has closed a first tranche of $150,000 of its $200,000 non-brokered private placement announced in early November. The Company also announced that it is increasing the private placement by an additional $50,000. The terms of the placement now call for the issue of up to 5,000,000 units at $0.05 per Unit for gross proceeds of up to $250,000. Each Unit consists of one common share and one-half of a transferable common share purchase warrant. Each whole Warrant is exercisable to acquire one common share at an exercise price of $0.20, for a period of three years from closing of the Offering. Medallion Resources Ltd
shares V.MDL are trading down $0.005 at $0.04.
