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Jul 05, 2002
Mindoro Completes 1,500,000 Unit Private Placement
Tony Climie, P. Geol., President of Mindoro Resources Ltd. ("Mindoro"), reports Mindoro has closed a non-brokered private placement of 1,500,000 units, at $0.10 per unit. As previously announced on June 7, 2002, each unit consists of one common share and one non-transferable common share purchase warrant. One purchase warrant will entitle the holder to purchase one additional common share during the first year for $0.15 and during the second year for $0.30. Common shares are subject to a hold period, which expires four months from the date units are issued. No bonuses, finders fees, commissions or Agent's Options will be paid in connection with the private placement. Net proceeds of the financing will be used for general working capital.

Mindoro trades on the TSX Venture Exchange under the symbol MIO. For further information, contact Penny Gould, Executive Vice President:

Phone: (1-780) 413-8187
Fax: (1-780) 426-2716
Email: mindoro@mindoro.com
Website: http://www.mindoro.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
 
 

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