Centerra Gold (TSX: CG) (NYSE: CGAU) continued its series of investments in Canadian-based gold juniors on Tuesday, this time with the acquisition of a 9.9% stake in Midland Exploration (TSXV: MD).The share acquisition is part of a private placement Midland arranged with institutional investors. Under the offering, the company will sell approximately 3.18 million shares at a near market price of C$0.33 per share, for gross proceeds of C$1.05 million. Centerra is expected to participate in this offering.Additionally, Midland is looking to sell 10.65 million shares at a higher price of C$4.75 each in a separate offering, for approximate proceeds of C$5.06 million.By midday, the stock traded 4.6% higher at C$0.34 apiece, giving the Quebec-focused gold explorer a market capitalization of just over C$31.8 million.“This placement will provide Midland with sufficient funds to ensure the progress and development of our wholly owned gold exploration projects in Abitibi, James Bay and northern Quebec,” Midland Exploration CEO Gino Roger stated in a press release.The company currently holds a large portfolio of properties across these regions, with a focus on establishing joint ventures with established miners. To date, it has secured partnerships with global leaders BHP and Rio Tinto, as well as Canadian household names like Agnico Eagle and Wallbridge Mining.Centerra investment spreeUpon completion of the private placements, Centerra — one of the largest gold miners in Canada — is expected to become a 9.9% shareholder in Midland.Midland would join a list of other junior explorers holding gold properties across the country that Centerra has invested in over the past year. These include Kenorland Minerals (TSXV: KLD), Ontario-focused Dryden Gold (TSXV: DRY), British Columbia-focused Thesis Gold (TSXV: TAU) and Quebec’s Azimut Exploration (TSXV: AZM), all with a 9.9% stake.The Toronto-headquartered miner currently owns two producing mines, Mount Milligan in British Columbia, Canada, and Öksüt in Türkiye. It also owns several development assets, including the Kemess project in BC and the Goldfield project in Nevada.
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