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Dec 15, 2006
Mindoro Announces Private Placement
EDMONTON, Alberta; December 15, 2006 - Mindoro Resources Ltd. (TSXV: MIO; Frankfurt: WKN 906167) today announced that it will raise up to CDN $3,290,000 by way of a private placement. The Company intends to sell up to 4,700,000 units to qualified investors at a price of $0.70 per unit. Each unit will consist of one Common Share and one half Common Share Purchase Warrant. Each whole Warrant entitles the holder to acquire one additional common share at a price of $1.00 per share for a period of one year after the close of the offering, and thereafter at $1.25 per share for one additional year. The Company may pay finder's fees as allowed by the policies of the TSXV.
Net proceeds of the offering will be used for advancing the Company's projects in the Philippines. The terms of the private placement are subject to regulatory approval. A news release will be made when the placement closes and shares are issued.
Mindoro is a Tier 1 Issuer trading on the TSX Venture Exchange (MIO) and the Frankfurt Stock Exchange (WKN 906167). In addition to the resource delineation being carried out at Kay Tanda, the company has identified 22 porphyry copper-gold prospects and a nickel laterite prospect in the Philippines and has an aggressive strategy of drilling multiple targets in 2006/2007.
FOR FURTHER INFORMATION, CONTACT:
Executive Vice President
Ascenta Capital Partners Inc.
Toll Free: 1.866.684.4209 ext. 228
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
You can view the Next Press Releases item: Thu Dec 21, 2006, Asian Lion Fund Invests $2.3 Million in Mindoro Resources Ltd.
You can view the Previous Press Releases item: Tue Dec 12, 2006, New Drill Results Further Extend Mineralization at Kay Tanda
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