October 14, 2009 (FinancialWire) — Midlands Minerals Corp. (TSX Venture: MEX) has engaged D&D Securities company and Clarus Securities Inc. to act as the company’s agents to offer securities by way of a private placement of up to $6 million on a best efforts basis.

The private placement offering (the “offering) of up to 40,000,000 Units (the “Units) will be at $0.15 per Unit, and will consist of one common share in the capital of the Company (each a “common share) and one half share purchase warrant (a “warrant). The Agents have been granted an over allotment allocation of 30% over and above the $6 million financing.

Each whole warrant will be exercisable at $0.25 to purchase an additional common share (each a warrant Share) for a period of 24 months (the “warrant Expiry Date) following the Closing Date. The warrants will be subject to an acceleration clause effective twelve months after the Closing Date, in the event that the closing price of the common shares for any 30 consecutive day trading period is equal to or greater than $0.50.

The offering will be made in accordance with private placement exemptions available in Ontario, British Columbia and Alberta and such other jurisdictions as the Agents and the company may approve (collectively, the “Qualifying Jurisdictions).

All subscriptions for Units are anticipated to be completed and accepted by the company on or before October 30th, 2009 or such later or earlier date or dates as agreed to by the Agents and the Company (the “Closing Date). On the Closing Date, funds will be released to the company net of commissions and expenses.

Up to 80% of the proceeds will be utilized for exploration of the company’s gold projects in Ghana

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