MRL Marlowe Plc

    Medoro Resources Announces Completion of Financing

 

    /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION

    IN THE UNITED STATES/

 

    TORONTO, Feb. 28 /CNW/ - Medoro Resources Ltd. (TSX-V/AIM: MRL) announced

today that it has completed its previously-announced private placement of 100

million common shares at $0.10 per share for gross proceeds of $10 million.

All securities issued as part of this placement are subject to a four-month

hold. The funds will be used for general corporate and working capital

purposes, which may include costs associated with identifying potential

acquisitions.

 

    Medoro Resources is a gold exploration and development company focused on

gold opportunities in Italy and elsewhere in Europe. In addition to its

financial assets, the company has a 30% interest in the Monte Ollasteddu gold

prospect 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, registered

under the United States Securities Act of 1933, as amended, and may not be

offered or sold within the United States or to, or for the account or benefit

of, U.S. persons absent U.S. registration or an applicable exemption from U.S.

registration requirements. This release does not constitute an offer for sale

of securities in the United States.

 

   

 

    For further information: Peter Volk, Secretary, (416) 603-4653,

info(at)medororesources.com

    (MRL.)

 

 



END

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