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Dec 15, 2000
Proposed Private Placement
Mindoro Resources Ltd. ("The Corporation") announces plans to increase the number of units offered pursuant to a private placement, previously announced December 13, 2000, to a maximum of 2,100,000. As previously announced, units will be offered at a price of $0.135 per unit. Each unit will consist of one common share and one common share purchase warrant. One purchase warrant will entitle the holder to purchase one additional common share during the first year for $0.18 and during the second year for $0.30. If fully subscribed, gross proceeds of the placement will be $283,500 which will be used by the Corporation for general working capital.
For further information, please contact Penny Gould, Executive Vice President
Phone: (780) 413-8187
Fax: (780) 426-2716
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release
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