Mukuba Announces Closing of Redemption of Outstanding Debentures
10 Octubre 2012 - 1:56AM
PR Newswire (Canada)
TORONTO, Oct. 12, 2012 /CNW/ - Mukuba Resources Limited ("Mukuba"
or the "Company") is pleased to announce that it has exercised its
right to redeem its 10% convertible debentures due April 17, 2013
(the "Debentures") in accordance with the terms of the Debentures
for a redemption price of 100% of the $443,000 principal amount
plus accrued interest (the "Debenture Redemption"). $50,000 of the
redemption price was paid in cash and the remainder (including
accrued interest) was paid by issuing common shares valued at
$0.114 per share, in accordance with the terms of the Debentures.
As a result, the Company has issued to the holders of such
Debentures an aggregate total of 3,608,132 common shares in
connection with the Debenture Redemption, subject to final
acceptance by the Exchange. About the Company Mukuba is a Canadian
mining company focused on the exploration and development of
certain African base metal assets alone and through a joint venture
partner. These assets include a 100% interest in the Northcore
Project, which is licensed for both copper and cobalt and
encompasses approximately 2,265 square km of geologically
prospective ground in the Central African Copperbelt region of
Zambia. Mukuba is also a party to a joint venture with Benzu
Resources Limited to explore and develop a copper and base metals
project in the Democratic Republic of the Congo. Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Forward-looking Information Securities regulators encourage
companies to disclose forward-looking information to help investors
understand a company's future prospects. This press release
contains statements about our future business and planned
activities, including matters relating to the Debenture Redemption.
These are "forward-looking" because we have used what we know and
expect today to make a statement about the future. Forward-looking
statements usually include words such as may, intend, plan, expect,
anticipate, believe or other similar words. We believe the
expectations reflected in these forward-looking statements are
reasonable. However, actual events and results could be
substantially different because of the risks and uncertainties
associated with our business or events that happen after the date
of this press release. You should not place undue reliance on
forward-looking statements. As a general policy, we do not update
forward-looking statements except as required by securities laws
and regulations. Mukuba Resources Limited CONTACT: Kelly Ehler,
President and CEOTEL: +1 (416) 368 4013 FAX: +1 (416) 603
9200Email: info@mukubaresources.com
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