Midway Gold -5% on news of $25M bought-deal offering

|About: Midway Gold Corp (MDW)|By:, SA News Editor

Midway Gold (MDW) -4.9% AH after a syndicate of underwriters agrees to buy 30.1M common shares at $0.83 each, raising ~$25M.

MDW says it intends to use the proceeds to fund the construction and working capital for the Pan project, Gold Rock development and permitting, and general corporate purposes.