| | | July 07, 2005
MBMI Issues Shares For Debt
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| | 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
Email: mbr@mbmiresources.com
Website: www.mbmiresources.com
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. |
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| | You can view the Next News Releases item: Fri Jul 8, 2005, MBMI Clarifies Samar Nickel Properties Agreement
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