| ||July 09, 2009|
MBMI Further Increases Unit Offering Of Private Placement
| ||Vancouver, B.C., July 09, 2009 - MBMI RESOURCES INC. ("MBMI" or the "Company") (TSX V: MBR) is pleased to report that further to its May 25, and June 20, 2009 news releases, the non-brokered Private Placement financing has been oversubscribed and gross proceeds will now be increased up to $850,000. Up to a total of 11.3 million Units at a price of $0.075 per Unit will be issued in accordance with this financing. 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 $0.10 for a two year period. Closing of the financing is subject to TSX Exchange approval.|
The net proceeds of the financings shall be used for exploration and development of the Company'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
"David G. Tafel"
V.P. Corporate Development and Director
For further information relating to the Company or this release, please refer to the Company's website at www.mbmiresources.com or contact Investor Relations at 1-877-399-1991 or firstname.lastname@example.org.
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.
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.
You can view the Next News Releases item: Thu Jul 16, 2009, MBMI Closes Final Tranche Of Private Placement
You can view the Previous News Releases item: Tue Jun 30, 2009, MBMI Increases Unit Offering And Closes First Tranche Of Private Placement
You can return to the main News Releases page, or press the Back button on your browser.