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MBMI Resources closes two tranches of non-brokered Private Placement.

International Resource News-19 March 2010-MBMI Resources closes two tranches of non-brokered Private Placement(C)2010 ENPublishing - http://www.enpublishing.co.uk

International Resource News - 19 March 2010(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

MBMI Resources Incorporated (MBMI Resources) (TSX VENTURE: MBR), a Canada-based mining company, has closed the first two tranches of its non-brokered Private Placement financing.

The private placement has generated USD589,000 in consideration of the issuance of 2,945,000 Units at a price of USD0.20 per Unit.

Each unit includes one Common Share and one full Common Share Purchase Warrant. The net proceeds will be used for the exploration and development of MBMI's Philippine nickel mineral properties and for general corporate purposes.

[Editorial queries for this story should be sent to irn@enpublishing.co.uk]

((Distributed via M2 Communications - http://www.m2.com))

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Publication:International Resource News (IRN)
Date:Mar 19, 2010
Words:142
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