THEMAC Announces Debt Settlement
31 Januar 2014 - 7:03PM
Marketwired
THEMAC Announces Debt Settlement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 31, 2014) -
THEMAC Resources Group Limited (TSX-VENTURE:MAC) ("THEMAC" or the
"Company") wishes to announce that the Directors of the Company
have agreed to reduce outstanding directors' fees of $107,280 by
issuing 1,192,000 common shares of the Company at a price of $0.09
per common share.
The settlement reflects the maximum allowable shares issuable
for the directors' fees. The Directors are cognizant of the need to
direct available funds to the development of the Copper Flat
project and completion of the Definitive Feasibility Study.
The transaction is subject to regulatory approvals. The shares
issued will have a hold period of four months from the date of
distribution in compliance with TSX Venture Exchange policies and
applicable securities law.
The Company further announces that the motion to grant Tulla
Resources Group Pty Ltd. security for its loan over the Company's
Copper Flat property was not approved by shareholders. The Company
will continue to seek opportunities for financing and capital
growth.
About THEMAC Resources Group Limited
THEMAC is a copper development company with a strong management
team which acquired the Copper Flat copper-molybdenum-gold-silver
project in New Mexico, USA in May 2011. The Company is committed to
bringing the closed copper mine, Copper Flat, in Sierra County, New
Mexico back into production with innovation and a sustainable
approach to mining development and production, local economic
opportunities and the best reclamation practices for our unique
environment. The Company is listed on the TSX Venture Exchange
(ticker: MAC) and has issued share capital of 75,300,122 common
shares (fully diluted share capital 132,537,779).
For more information please visit www.themacresourcesgroup.com
or review the Company's filings on SEDAR (www.sedar.com).
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
THEMAC Resources Group LimitedAndrew MaloneyChief Executive
Officer+44 7539 466703www.themacresourcesgroup.com
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