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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Altan Rio Minerals Limited | TSXV:AMO | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.09 | 0.085 | 0.09 | 0 | 01:00:00 |
VANCOUVER, Jan. 28, 2013 /CNW/ - Altan Rio Minerals Limited, TSX.V: AMO ("Altan Rio" or the "Company") announces that, subject to acceptance by the TSX Venture Exchange, it proposes settling a debt for drilling services of $245,860 to Erdenyn Erel LLC ("EEL" or "Erdenyn Erel"), a private Mongolian company, by issuance of an aggregate of 1,606,928 common shares in the Company. As per the agreement dated June 19th, 2012, with EEL, shares will be issued at a 15% discount to market price. The Company's shares closed on January 25th, 2013, the last closing price prior to this release, at $0.18; therefore a 15% discount from this price yields a settlement price of $0.153. The proposed shares to be issued in this settlement of debt will be subject to a hold period of four months and one day from the date of issuance.
Erdenyn Erel drilled 3,030.35 m at the Company's Chandman-Yol copper-gold porphyry project in western Mongolia in 2012. For more information on the recently released drill results please see the Company's news release from January 18th, 2013.
About Altan Rio
Altan Rio, founded in 2007, is based in Vancouver BC, Canada. Using
innovative exploration targeting techniques and leveraging long-term
in-country experience, the company explores large-scale gold and copper
projects in Mongolia, one of the world's most prospective mineral
regions. The Company's license holdings in Mongolia, which total more
than 153,310 hectares (378,873 acres), contain significant zones of
newly identified primary gold and copper mineralization across a very
large area of unexplored ground.
On behalf of Altan Rio Minerals Limited,
"Evan Jones"
Evan Jones, President & CEO
This press release may contain forward looking statements including
those describing Altan Rio's future plans and the expectations of
management that a stated result or condition will occur. Any statement
addressing future events or conditions necessarily involves inherent
risk and uncertainty. Actual results can differ materially from those
anticipated by management at the time of writing due to many factors,
the majority of which are beyond the control of Altan Rio and its
management.
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.
SOURCE Altan Rio Minerals Limited
Copyright 2013 Canada NewsWire
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