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MGold Announces Shares for Debt Transaction
Published : February 27, 2013
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Keywords :   Debt | Market |

CALGARY, ALBERTA--(Marketwire - Feb. 27, 2013) - MGold Resources Inc. (News - Market indicators) ("MGold" or the "Corporation") announced today that it settled outstanding indebtedness of $50,500 through the issuance of 1,010,000 common shares of the Corporation at a deemed price of $0.05 per share. The common shares issued in connection with the debt settlement are subject to a four month hold period that expires on June 27, 2013.

Hugh Loney, a director of MGold, subscribed for 210,000 common shares under the debt settlement. MGold has determined that exemptions from the various requirements of the TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 are available for the issuance of the common shares (Formal Valuation - Issuer Not Listed on Specified Markets; Minority Approval - Fair Market Value Not More Than 25% of Market Capitalization).

MGold Resources Inc. is a Lethbridge, Alberta based corporation engaged in the exploration for minerals. The Corporation's common shares are listed on the TSX Venture Exchange under the trading symbol "MNI".

Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

MGold Resources Inc.
John Squarek
President and Chief Executive Officer
403-388-0969
john.squarek@mgold.ca
Companies Mentionned : Aura Minerals | Mgold Resources |
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MGold Resources Inc

EXPLORATION STAGE
CODE : MNI.V
ISIN : CA8753521068
CUSIP : 56880Q
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MGold Resources is an exploration gold company based in Canada.

MGold Resources holds various exploration projects in Canada and in USA.

Its main exploration properties are NEEDLE LAKE and BURCHELL LAKE in Canada and GOLDCREEK in USA.

MGold Resources is listed in Canada. Its market capitalisation is CA$ 1.3 millions as of today (US$ 1.3 millions, € 939 351).

Its stock quote reached its highest recent level on December 28, 2006 at CA$ 0.50, and its lowest recent point on June 15, 2012 at CA$ 0.02.

MGold Resources has 43 454 000 shares outstanding.

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Annual reports of MGold Resources Inc
Annual Report 2007
Financings of MGold Resources Inc
4/15/2013.: Closing of Debenture Issue
1/31/2013Announces Proposed Debenture Offering
12/3/2012Announces Closing of Financing
10/31/2012Announces Extension Of Financing
12/23/2010Announces Private Placement Offering
Nominations of MGold Resources Inc
10/12/2012Announces Appointment of Chief Financial Officer and Corpora...
Corporate news of MGold Resources Inc
6/21/2013Announces Delay of Annual General Meeting
4/9/2013Announces Termination of Oil and Gas Project Participation
2/27/2013Announces Shares for Debt Transaction
2/21/2013Announces Property Evaluation Results
1/21/2013Announces Shares for Debt Transaction
1/4/2013Announces Oil and Gas Project Letter of Intent
11/15/2012.: Oil and Gas Project Participation
3/24/2011Completes $599,970 Private Placement
4/16/2007Extensive Gold Encountered in I-Zone Surface Program at Meng...
3/5/2007Promising Geophysics at Mengold's Goldcreek Property
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