Medallion Resources Ltd.

10:12 AM EST - Medallion Resources Ltd. : Has agreed to a $1,500,000 non-brokered private placement, pursuant to which it will issue up to 10,000,000 units at a purchase price of $0.15 per Unit for gross proceeds of up to $1,500,000. Each Unit will consist of one common share in the capital of the Company and one-half of a transferable Common Share purchase warrant, exercisable to acquire one additional Common Share at an exercise price of $0.20 for a period of 36 months following the closing of the Offering. Medallion Resources Ltd. shares V.MDL are trading down $0.005 at $0.25.