| Magellan Completes Shares for Debt Settlement | |
| | |
|
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 11, 2014) - Magellan Minerals Ltd. (TSX VENTURE: MNM) (the "Company") is pleased to announce that it has completed the shares for debt transaction announced on July 31, 2014, after receiving the approval of the TSX Venture Exchange to settle indebtedness to its single largest creditor. The Company issued 4,602,030 common shares of the Company (the "Shares") at a deemed price of $0.13 per Share in full satisfaction of debt in the total amount of R$1,212,998.13 (being C$598,263.96 applying the agreed foreign exchange rate of R$2.02753 to each C$1.00). The Shares are subject to a four month hold period expiring on December 8, 2014. Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
|
|
|
Magellan Minerals Ltd
|
|
EXPLORATION STAGE |
CODE : MNM.V |
ISIN : CA55908M1086 |
|
| |
ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Magellan is a gold exploration company based in Canada. Its main exploration properties are PORQUINHO, CORINGA, MARANHENSE, MATO VELHO, JERIMUM BAIXO, UNIÃO, NHAMUNDÁ and CUIU CUIU in Brazil. Magellan is listed in Canada. Its market capitalisation is CA$ 15.4 millions as of today (US$ 12.0 millions, € 10.5 millions). Its stock quote reached its highest recent level on December 17, 2010 at CA$ 1.94, and its lowest recent point on January 22, 2016 at CA$ 0.03. Magellan has 205 850 000 shares outstanding. |