14th Feb 2006 07:00
Medoro Resources Receives Listing Approval /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/ TORONTO, Feb. 13 /CNW/ - Medoro Resources Ltd. (TSX-V/AIM: MRL) announcedtoday that the TSX Venture Exchange (TSXV) has provided its conditionallisting approval for the previously announced offering of 100 million commonshares at $0.10 per share for gross proceeds of $10 million. Medoro and GMPSecurities L.P. have agreed not to issue any additional shares pursuant to thepreviously announced option as the TSXV required that the Medoro common sharesto be issued pursuant to the previously announced option be priced at anamount higher than the $0.10 per share offering price. The offering will be completed with GMP acting as agent on a "best-efforts" private placement basis and subject to the parties executing aformal agency agreement. The company has also applied to have the sharesadmitted to trading on the Alternative Investment Market (AIM) of the LondonStock Exchange plc. The financing is subject to final regulatory approval and is expected toclose on or before February 28, 2006. All shares issued will be subject to afour-month hold period. The funds will be used for general corporate and working capitalpurposes, which may include costs associated with identifying potentialacquisitions. Medoro Resources is a gold exploration and development company focused ongold opportunities in Italy and elsewhere. In addition to its financialassets, the company has a 30% interest in the Monte Ollasteddu gold prospectin Italy. For further information, please visit the company's website atwww.medororesources.com. THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE The securities being offered have not been, nor will they be, registeredunder the United States Securities Act of 1933, as amended, and may not beoffered or sold within the United States or to, or for the account or benefitof, U.S.persons absent U.S. registration or an applicable exemption from U.S.registration requirements. This release does not constitute an offer for saleof securities in the United States. For further information: Peter Volk, Secretary, (416) 603-4653,pvolk(at)medororesources.com (MRL.) ENDMEDORO RESOURCES LTDRelated Shares:
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