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Medallion Resources Closes $400,000 Private Placement
Published : June 25, 2013
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Keywords :   Market | Market Conditions | Oil | Oman | Rare Earth |

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 25, 2013) - Medallion Resources Ltd. (News - Market indicators)(OTCQX:MLLOF)(FRANKFURT:MRD) ("Medallion" or the "Company") today announced that it has closed a non-brokered private placement, announced June 10, 2013, for gross proceeds of $400,000 comprising 2,000,000 common shares of Medallion at a price of $0.20 per share (the "Private Placement").

The shares were subscribed by Medallion's President, Don Lay, the subscription funded in his accounts, or accounts he controls, from proceeds of an arranged sale of approximately 2,000,000 shares executed through the facilities of the TSX Venture Exchange (the "TSXV") at a price of $0.20 per share (the "Disposition"). As Mr. Lay or accounts he controls were the sole subscriber to the Private Placement, the transaction constitutes a related party transaction under applicable securities laws, however the Private Placement is exempt from the formal valuation and minority shareholder approval requirements of Multilateral Instrument 51-101 Protection of Minority Security Holders in Special Transactions, as neither the fair market value of any shares issued to Mr. Lay or account he controls, nor the consideration paid by Mr. Lay, exceeded 25% of the Company's market capitalization. The Disposition and the Private Placement on a net basis did not materially affect the number of common shares of Medallion held or controlled by Mr. Lay.

The proceeds of the offering will be used toward the Company's pro rata share of funding of an independent financial and technical study of the Company's proposed rare-earth extraction facility in Oman and for working capital.

The common shares issued in the Private Placement are subject to a four-month hold period ending October 24, 2013, pursuant to securities legislation and the policies of the TSX Venture Exchange (the "Exchange").

About Medallion Resources Ltd.

On June 20, 2013, Medallion announced that it had signed a Memorandum of Understanding with Takamul Investment Company, a subsidiary of government-owned Oman Oil Company, to conduct studies investigating the viability of constructing and operating a monazite-based, rare-earth extraction facility in the industrial city of Duqm, Oman. A Duqm-based facility is fully aligned with Medallion's production strategy, which is to exploit available supplies of the mineral by-product monazite from heavy-mineral-sand mines in the Indian Ocean basin in order to extract and produce significant quantities of rare-earth products. More about Medallion (News - Market indicators)(OTCQX:MLLOF)(FRANKFURT:MRD) can be found at medallionresources.com.

Medallion management has prepared this news release and takes full responsibility for content. 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 estimates and statements that describe Medallion's future development, 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. 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.



Medallion Resources Ltd.
Donald Lay
President
+1.604.681.9558
info@medallionresources.com
www.medallionresources.com
or
Hamza Thindal Capital Corp.
Kam Thindal
Partner
+1.888.371.9098
kam@htcapitalcorp.com
Data and Statistics for these countries : Oman | All
Gold and Silver Prices for these countries : Oman | All

Medallion Resources Ltd.

EXPLORATION STAGE
CODE : MDL.V
ISIN : CA5839351015
CUSIP : 583935 10 1
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Medallion Res. is a iron and titanium exploration company based in Canada.

Its main exploration properties are RED WINE and ROMAINE RIVER in Canada.

Medallion Res. is listed in Canada and in United States of America. Its market capitalisation is CA$ 6.7 millions as of today (US$ 5.4 millions, € 4.7 millions).

Its stock quote reached its highest recent level on October 23, 1996 at CA$ 7.75, and its lowest recent point on July 24, 2015 at CA$ 0.01.

Medallion Res. has 84 090 000 shares outstanding.

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Annual reports of Medallion Resources Ltd.
Annual Report 2008
Annual Report 2007
Financings of Medallion Resources Ltd.
4/8/2015Announces $250,000 Private Placement
1/14/2015Closes Second Tranche of $250,000 Private Placement
10/18/2013Applies for Warrant Extension
7/17/2013Reports Exercise of Warrants for Approximately $400,000
6/25/2013Closes $400,000 Private Placement
6/10/2013Announces Private Placement
10/5/2009 $300,000 Private Placement Financing
2/20/2008Closes oversubscribed private placement
Project news of Medallion Resources Ltd.
6/20/2013Partners With Takamul Investment Company to Evaluate Rare-Ea...
3/15/2011Dr. Bill Bird of Medallion Resources is quoted in article Ch...
Corporate news of Medallion Resources Ltd.
7/6/2016Medallion Announces $300,000 Private Placement
6/7/2016Medallion Appoints Mark Saxon to Advisory Board
4/8/2016Medallion Plans Pilot-Scale Tests of Rare Earth Extraction P...
1/28/2016Medallion Resources – 2016 Plans
1/28/2016Medallion Resources -- Plans for 2016
10/26/2015Medallion Provides Rare Earth Product Samples to Industry
10/22/2015Medallion Resources Completes Private Placement
10/1/2015Nevada Sunrise Appoints David Shaw to Advisory Board
9/26/2015Medallion Clarifies Previously Announced Private Placement
9/25/2015Medallion Clarifies Previously Announced Private Placement
9/17/2015Medallion Resources Arranges $225,000 Private Placement
8/25/2015Rare-Earth Extraction Tests Produce Phosphate By-Product
8/12/2015IIROC Trading Resumption - MDL
8/12/2015Medallion’s Metallurgical Tests Yield a Refinery-Ready Rare ...
8/12/2015Medallion's Metallurgical Tests Yield a Refinery-Ready Rare ...
8/11/2015IIROC Trading Halt - MDL
8/4/2015Medallion Appoints Agent to Source South-East Asian Monazite
4/21/2015Private Placement Increased to $325,000
4/20/2015Private Placement Increased to $325,000
4/9/2015Medallion Increases Private Placement to $300,000
4/8/2015Medallion Announces $250,000 Private Placement
3/16/2015@INN_RareEarth
3/10/2015Medallion Resources Appoints R+R Consulting
3/2/2015Medallion Resources Appoints R+R Consulting
1/29/2015Medallion Provides Business Strategy Update
11/7/2014Medallion Announces $200,000 Private Placement
10/31/2014Medallion Initiates Laboratory-Scale Rare Earth Monazite Pro...
10/31/2014Medallion Announces Management Changes and Reports 2014 Annu...
10/30/2014Medallion Initiates Laboratory-Scale Rare Earth Monazite Pro...
10/8/2014Medallion Announces Management Changes and Reports 2014 Annu...
9/8/2014Medallion Resources Announce Extension of MOUs
7/8/2014Medallion Resources Appoints David Shaw to Board of Director...
6/4/2014Medallion Closes $700,000 First Tranche of Private Placement
5/21/2014Medallion Resources Announces $1,000,000 Private Placement
10/25/2013Clarifies Disclosure
9/30/2013Announces Results From 2013 Annual and Special Meeting of Sh...
9/18/2013to Attend Swiss Mining Institute Conferences in Zurich and G...
7/9/2013and Arab Mining Company to Develop and Finance Rare-Earth Op...
2/19/2013Provides Corporate Update
11/5/2012Completes Initial Technical Plans for Rare-Earth Processing ...
12/20/2011Rare Earth Mining Innovations Interview with Anthony Mariano...
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TSX-V (MDL.V)OTHER OTC (MLLOF)
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