Mindoro Resources Ltd.
TSX VENTURE: MIO
FRANKFURT: WKN 906167
Mar 03, 2010 17:25 ET
EDMONTON, ALBERTA–(Marketwire – March 3, 2010) – Mindoro Resources Ltd. (TSX VENTURE:MIO) (FRANKFURT:WKN 906167) announces that it has closed its previously announced private placement of 25 million units at a price of CAD$0.105 per unit for gross proceeds of $2,625,000.00. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share at an exercise price of CAD$0.15 per share for one year from the date of closing. The company paid finder’s fees of $159,250 and 1,516,665 finder’s warrants in connection with the investment. Each finder’s warrant is exercisable into one common share at a price of $0.15 for one year. All securities issued are subject to a four-month statutory hold period expiring on July 4, 2010.
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For more information, please contact
Mindoro Resources Ltd.
Penny Gould
President
(780) 413-8187 or 1-877-413-8187
www.mindoro.com
or
Investor Relations – Canada
Senergy Communications Inc.
Investor Relations
(778) 331-2030
ir@mindoro.com
or
Investor Relations – Europe
Robert Sarcher
49.821.6089051
robert@mindoro.com
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