To assist the Company in the evaluation of new projects, it has established an advisory board (the
April 23, 2014 NEWS RELEASE
Restructure
Vancouver, B.C. – Midasco Capital Corp. (the "Company") (TSX-‐V Symbol: MGC) wishes to announce that its Board of Directors has approved the re-‐organization of the Company by re-‐evaluating its current resource assets and pursuing new opportunities in other industry sectors such as agriculture, technology, medical, and other resource sectors. At this time, no transactions are in place, nor is there any assurance that a new project will be found in the near future.
To assist the Company in the evaluation of new projects, it has established an advisory board (the "Advisory Board"), which will consist of individuals with defined expertise in various industry sectors. The first member to join the Advisory Board is Mr. Philip Crawford. Mr. Crawford brings over 40 years experience and expertise in the industry sectors of banking, oil field technologies, intellectual property and patents, commercialization/valuations, cross border financing, incremental integrated financing strategy, reverse take overs, and initial public offering. It is anticipated that all members of the Advisory Board will be given certain stock options under an approved Stock Option Plan along with compensation for consulting services provided to the Company in the evaluation of a specific project.
For the purpose of attracting future equity funding, subject to regulatory approval, the Company intends to:
1. Consolidate its issued and outstanding share capital on the basis of 10 old shares for 1 new share.
2. Enter into debt settlement agreements with its creditors to settle in full approximately $214,725 in outstanding debt in exchange for 4,294,500 common shares at a price of $0.05 per share post-‐consolidation.
3. Issue by way of a non-‐brokered private placement to accredited investors, up to 3,000,000 common shares at the price of $0.05 per share post consolidation. Proceeds of which will be used to meet the listing requirements of the TSX-‐V and other working capital needs.
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as “forward-‐looking statements”. Forward looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-‐looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that
12216 Boundary Drive North Surrey, BC V3X 1Z5 Phone: (604) 669-2901 Fax: (604) 669-8922 Toll free: 1-888-669-2901 Midasco News Release April 23, 2014……Page 2
could cause actual results to differ materially from those indicated in the forward-‐looking statements. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward-‐looking statements. Any forward-‐looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-‐looking statements, except in accordance with the applicable laws.
We seek Safe Harbor.
On behalf of the Board, William Pettigrew, President & CEO
Phone: 604-‐669-‐2901
"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."