MBMI Arranges $2,000,000 Private Placement
13 April 2010 - 6:04AM
Marketwired
MBMI RESOURCES INC. ("MBMI" or the "Company") (TSX VENTURE: MBR)
reports that it has arranged a non-brokered private placement
financing of 10,000,000 Units at $0.20 per Unit for gross proceeds
of $2,000,000. Each Unit consists of one Common Share and one full
Common Share Purchase Warrant. Each full Warrant entitles the
holder to purchase one Common Share at a price of $0.30 and has an
expiry period of three years. All common shares issued will be
subject to a four month hold period, and are subject to TSX Venture
Exchange approval.
The net proceeds shall be used for exploration and development
of MBMI's Philippine nickel mineral properties, and for general
corporate purposes.
MBMI Resources Inc. is a Canadian-based mining company focused
on the exploration and development of nickel mineral properties in
the Philippines. MBMI and its Philippine partners have an interest
in nine nickel laterite projects in the Philippines, covering an
area greater than 22,000 hectares. MBMI's objective is to become a
major supplier of high-grade nickel products to primary industrial
consumers in Asia.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael T. Mason, President and Director
This news release may contain forward-looking information
including but not limited to comments regarding the timing and
content of upcoming financings, work programs, geological
interpretations, receipt of property titles, potential mineral
recovery processes, etc. Forward-looking information includes
disclosure regarding possible future events, or conditions or
results of operations that is based on assumptions about future
economic conditions and courses of action, and therefore, involves
inherent risks and uncertainties. Although management has a
reasonable basis for the conclusions drawn, actual results may
differ materially from those currently anticipated in such
statements.
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.
Contacts: MBMI Resources Inc. Investor Relations 1-877-399-1991
or 604-683-1991 604-683-8544 (FAX) mbr@mbmiresources.com
www.mbmiresources.com
Mbmi Resources Inc. (TSXV:MBR)
Historical Stock Chart
From Jun 2024 to Jul 2024
Mbmi Resources Inc. (TSXV:MBR)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Mbmi Resources Inc. (TSX Venture Exchange): 0 recent articles
More MBMI Resources Inc. News Articles