Tuesday, June 30, 2009
MBMI Increases Unit Offering And Closes First Tranche Of Private Placement
Vancouver, B.C., June 30, 2009 --MBMI
RESOURCES INC. ("MBMI" or the "Company") (TSX V: MBR)
is pleased to report that further to its May 25, 2009 news release, the
non-brokered Private Placement financing has been oversubscribed and gross
proceeds will now be increased from $525,000 up to $750,000. Up to a total
of 10 million Units at a price of $0.075 per Unit will be issued in
accordance with this financing.
The Company also reports that it has closed the first tranche of this
non-brokered Private Placement financing. The Company has received gross
proceeds of $372,248 in consideration of the issuance of 4,963,318 Units at
a price of $0.075 per Unit. 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. The
Common Shares are subject to a four month hold which expires on September
28, 2009. Finders' fees of $8,750 cash and 60,000 broker warrants (having
the same terms as the participants) have been paid.
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.
Corporate Profile
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
"Michael T. Mason"
President and Director
Further Information
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 mbr@mbmiresources.com.
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 also view this News Release
on our website at:
http://www.mbmiresources.com/s/NewsReleases.asp?ReportID=354400
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