Mahdia Gold Corp.
CNSX : MGD

May 18, 2011 16:03 ET

Mahdia Gold Corp.: Press Release

MISSISSAUGA, ONTARIO--(Marketwire - May 18, 2011) -

MAHDIA GOLD CORP (CNSX:MGD) is currently trading on the Canadian National Stock Exchange.

Mahdia Gold Corp is a publicly listed on the Canadian National Stock Exchange (CNSX) under the symbol MGD. The company's website is: www.mahdiagold.com. The website of the CNSX exchange is www.cnsx.ca.

Mahdia Gold Corp is pleased to announce a private placement today May 18th, 2011. The company will issue up to a maximum of 8,333,334 units at a price of $0.60 per unit for a maximum of CDN $5,000,000 in proceeds. Each unit will consist of one common share and one-half of one transferable share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share at any time for two years from the closing date at a price of $1.05. The warrants will be subject to forced conversion if the 10-day volume-weighted average trading price exceeds $1.05 during the period starting 4 months from closing. The Company will pay a finder's fee in connection with the private placement.

Mahdia Gold Corp currently has 62,004,020 shares outstanding.

NO SECURITIES REGULATORY AUTHORITY OR STOCK EXCHANGE HAS APPROVED OR DISAPPROVED OF THE INFORMATION CONTAINED IN THIS PRESS RELEASE.

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