| | | August 05, 2004
Funding For Private Placement
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| | MBMI RESOURCES INC. (MBR-TSXV) "MBMI" announces that certain directors, officers and shareholders of MBMI have arranged the sale of 800,000 common shares of MBMI at a price of $0.12 per share through the facilities of the TSX Venture Exchange. The net proceeds from these sales will be used to fund a portion of the Company's non-brokered private placement of up to 2,000,000 units a price of $0.10 per unit, for aggregate gross proceeds of $ 200,000, and 833,333 Flow-through Units at $.12 per Unit for gross proceeds of $100,000 previously announced July 28, 2004.
MBMI is a Canadian based mining exploration company focused on the acquisition, exploration and development of mineral properties, and holds the rights to three Canadian projects: the McMillan gold mine property in Espanola, Ontario; the Squall Lake, Manitoba gold project; the Copper Prince gold, and nickel-copper-pgm property in Sudbury, Ontario. In addition, MBMI has signed an agreement in principal pertaining to three nickel properties in the Philippines.
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.
For further information, contact:
David G. Tafel - VP Corporate Development
Tel: 604-683-1991
Email: mbr@mbmiresources.com
Website: www.mbmiresources.com
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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