6th Feb 2006 07:00
Medoro Resources Amends Terms of Offering /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/ TORONTO, Feb. 3 /CNW/ - Medoro Resources Ltd. (TSX-V/AIM: MRL) announcedtoday that it has amended its agreement with GMP Securities L.P. in connectionwith the previously announced offering of common shares to increase the sizeof the offering. The offering will be completed on a "best-efforts" privateplacement basis, and subject to the parties executing a formal agencyagreement, for up to $10 million through the sale of 100,000,000 common sharesat $0.10 per share. GMP shall have the option to sell an additional 60,000,000common shares at $0.10 per share for additional proceeds of $6 million. Thefinancing is subject to regulatory approval and is expected to close on orbefore February 16, 2006. All shares issued will be subject to a four-monthhold period. The funds will be used for general corporate and working capitalpurposes, which may include costs associated with identifying potentialacquisitions. The Company intends to apply to have the common shares listed on the TSXVenture Exchange and admitted to trading on the Alternative Investment Market(AIM) of the London Stock Exchange plc. Medoro Resources is a gold exploration and development company focused ongold opportunities in Italy and elsewhere in Europe. In addition to itsfinancial assets, the company has a 30% interest in the Monte Ollasteddu goldprospect in Italy. 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,info(at)medororesources.com (MRL.) ENDMEDORO RESOURCES LTDRelated Shares:
Marlowe