| ||July 07, 2005|
MBMI Issues Shares For Debt
| ||MBMI RESOURCES INC. (MBR-TSXV) "MBMI" reports that further to its news release of June 8, 2005 it has now issued to a long term creditor of the Company, an aggregate of 505,748 shares to settle outstanding debt of $187,127 at a deemed price of $0.37 per common share. The debt has now been extinguished and the shares are subject to a hold period of four months from the date of issuance. |
MBMI maintains an interest in seven nickel properties in the Philippines, and also holds the rights to three Canadian gold projects.
For further information:
David G. Tafel - VP Corporate Development
Tel: 604-683-1991; Fax: 604-683-8544; Toll free: 1-877-399-1991
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.
The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.
You can view the Next News Releases item: Fri Jul 8, 2005, MBMI Clarifies Samar Nickel Properties Agreement
You can view the Previous News Releases item: Thu Jun 30, 2005, MBMI Reports Financial Results For First Quarter
You can return to the main News Releases page, or press the Back button on your browser.