EDITOR: | January 14th, 2015

Medallion Closes Second Tranche of $250,000 Private Placement

| January 14, 2015 | No Comments


Medallion Resources Ltd. (TSX VENTURE:MDL)(OTCQB:MLLOF) (“Medallion” or the “Company”), today announced that it has closed the second and final tranche of its non-brokered private placement announced November 9, 2014, and updated December 11, 2014, for total gross proceeds of $250,000.

The Company has issued, pursuant to the closing of the second tranche of the placement, 2 million units (each a “Unit”) at $0.05 per Unit for gross proceeds of $100,000. Each Unit in the offering (the “Offering”) consists of one common share and one-half of a transferable common share purchase warrant (a “Warrant”). Each whole Warrant is exercisable to acquire one common share at an exercise price of $0.20, for a period ending January 12, 2018. In this second tranche, Medallion directors and officers in aggregate subscribed for 446,000 Units or $22,300 of proceeds, which included $10,000 of subscription funds received from the sale of 200,000 shares of Medallion through the facilities of the Exchange.

All securities issued to purchasers under the second tranche are subject to a hold period expiring May 9, 2015, pursuant to relevant securities legislation and the policies of the Exchange. The Company paid finders’ fees of $4,000 representing 8% of the gross proceeds and issued 80,000 finders’ options equal to 8% of the Units sold by certain qualified finders. Each finder’s option shall be exercisable to acquire one common share of the Company at an exercise price of $0.05 per share until January 12, 2017.

The proceeds of the Offering will be used for lab-scale testing of monazite processing for potential customers, monazite feedstock acquisition activities, and working capital.

All securities issued to purchasers and finders under the Offering will be subject to a four-month hold period from the Closing Date, pursuant to securities legislation and the policies of the Exchange. The securities offered have not been nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws, and may not be offered or sold in the United States or to an account for the benefit of US persons, absent such registration or an exemption from registration. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, sale, or solicitation would be unlawful.

About Medallion Resources

Medallion Resources is focused on the opportunity for low-cost, near-term, rare-earth production by exploiting the mineral monazite. Monazite is a rare-earth phosphate that is available as a by-product from existing mining and mineral-sands sources, principally in the Indian Ocean basin. Rare earths are used in critical components for virtually all computing and mobile electronic products, as well as wind turbines, electric and hybrid vehicles, and strategic defense systems. Medallion is committed to following best practices and accepted international standards in all aspects of mineral processing and the safe management of waste materials. More about Medallion (TSX VENTURE:MDL)(OTCQB:MLLOF)(FRANKFURT:MRD) can be found at medallionresources.com.

Medallion management takes full responsibility for content and has prepared this news release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Some of the statements contained in this release are forward-looking statements, such as statements relating to completion of extraction processing tests, and estimates and statements that describe Medallion’s future production and financing plans, objectives or goals, including words to the effect that Medallion or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties, including the risks inherent in completing laboratory-scale processing tests and applying the results to full-scale production and other risks outlined in the Company’s management discussions and analysis of financial results. Actual results in each case could differ materially from those currently anticipated in these statements. Such risks include expectations that may be raised by discussing potential business, acquisitions or development plans. Also, in order to proceed with Medallion’s plans, additional funding will be necessary and, depending on market conditions, this funding may not be forthcoming on a schedule or on terms that facilitate Medallion’s plans.


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