February 6, 2019 – Vancouver, British Columbia – Miranda Gold Corp. (TSX-V: MAD) (the “Company”) is pleased to announce that it has received subscriptions for the purchase of 13,200,000 units at a price of $0.20 per unit, for gross proceeds of $2,640,000. Each unit will consist of one post-consolidated common share and one share purchase warrant exercisable to acquire a further post-consolidated common share at a price of $0.40 per share for a period of five years. The company will consolidate its shares on the basis of 10 existing shares for each new share concurrently with the closing of the private placement. In addition, the Company will on closing change its name to Outcrop Gold Corp. Closing of the transaction is subject to stock exchange acceptance. The Company is not proceeding with the previous private placement last announced on November 21, 2018.
Miranda is a gold prospect generator active in Colombia. Our emphasis is on acquiring gold exploration projects with world-class discovery potential. Miranda performs its own grass roots exploration and then employs a joint venture business model on its projects to maximize investor exposure to discovery and minimize financial risk. Miranda has ongoing relationships with IAMGold Corporation and Newmont Mining.
ON BEHALF OF THE BOARD OF DIRECTORS
Joseph (Joe) Hebert, Chief Executive Officer
Neither the 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.