Midnight Sun Mining closes $30.47-million offering

Mr. Al Fabbro reports MIDNIGHT SUN CLOSES OVERSUBSCRIBED C$30,475,575 "BOUGHT DEAL" LIFE OFFERING Midnight Sun Mining Corp. has closed its previously announced upsized bought deal financing for aggregate gross proceeds of $30,475,575, including the full exercise of the underwriters' option. The offering consisted of the issuance and sale of 22,574,500 units of the company at a price per unit of $1.35 on a prospectus-exempt basis pursuant to the listed issuer financing exemption (LIFE) under Part 5A of National Instrument 45-106 and Coordinated Blanket Order 45-935, Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. The offering was led by Haywood Securities Inc., as lead underwriter and sole bookrunner, on its own behalf, and on behalf of a syndicate of underwriters including Beacon Securities Ltd., Red Cloud Securities Inc. and SCP Resource Finance LP. Each unit consists of one common share in the capital of the company and one-half of one common share purchase warrant of the company. Each warrant entitles the holder thereof to acquire one common share in the capital of the company at a price per warrant share of $2 until Oct. 28, 2027. The net proceeds from the sale of the units will be used by the company for advancing exploration across the company's Zambian exploration projects and for working capital and general corporate purposes. The units issued to Canadian resident subscribers under the LIFE are not subject to a hold period pursuant to applicable Canadian securities laws. There is an offering document related to the offering of units that can be accessed under the company's issuer profile on SEDAR+ and on the company's website. In consideration for their services, the company paid the underwriters a cash commission equal to 6.0 per cent of the gross proceeds from the offering and issued to the underwriters transferable compensation options entitling the underwriters to purchase up to that number of common shares as is equal to 6.0 per cent of the aggregate number of units sold under the offering at a price per common share equal to the issue price until Oct. 28, 2027. The offering remains subject to the final approval of the TSX Venture Exchange. About Midnight Sun Mining Corp. Midnight Sun is focused on exploring its flagship Solwezi project, located in Zambia. Situated in the heart of the Zambia-Congo copper belt, the second-largest copper-producing region in the world, the property is vast and highly prospective. The Solwezi project is surrounded by producing copper mines, including Africa's largest copper mining complex right next door, First Quantum's Kansanshi mine. Led by an experienced geological team with multiple discoveries and mines around the world to its credit, Midnight Sun's goal is to find and develop Zambia's next generational copper deposit. We seek Safe Harbor.