06:18:44 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Minaurum Gold Inc
Symbol MGG
Shares Issued 52,966,546
Close 2013-11-19 C$ 0.035
Market Cap C$ 1,853,829
Recent Sedar Documents

Minaurum Gold to subscribe for 571,325 GRIT shares

2013-11-20 09:07 ET - News Release

Mr. Darrell Rader reports

MINAURUM RENEGOTIATES FINANCING WITH GLOBAL RESOURCES INVESTMENT LTD.

Further to its news release dated Oct. 3, 2013, Minaurum Gold Inc. has renegotiated its share exchange agreement with Global Resources Investment Ltd. (GRIL), an arm's-length party to Minaurum. Minaurum will now subscribe for 571,325 GRIT shares at a deemed value of one British pound per GRIT share in exchange for the issuance of 10 million shares of Minaurum at a deemed price of 0.0571 British pound per unit (this equals approximately 9.5 Canadian cents). There are no warrants issued in connection with this financing. Minaurum will sell the shares it receives to realize the private placement proceeds.

This agreement significantly strengthens the financial position of Minaurum as it drill permits its Santa Marta VMS (volcanogenic massive sulphide) project and the Vuelcos Del Destino project located in the Guerrero gold belt.

GRIL is a United Kingdom-based investment trust established to locate and exploit investment opportunities in the natural resources sector worldwide. GRIL's investment objective is to generate medium- and long-term capital growth through investment in diverse portfolios of small- and mid-capitalized natural resources and mining companies listed on various global stock exchanges.

Closing of the transaction is subject to a number of conditions including approval of the TSX Venture Exchange, and GRIT successfully listing on the London Stock Exchange. Finders' fees may be payable with respect to the share exchange agreement, in accordance with exchange policies.

We seek Safe Harbor.

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