Malaga Inc. (malaga)
Toronto Stock Exchange(TSX)
MONTREAL, Oct. 30 /CNW Telbec/ - Malaga Inc. ("Malaga") (TSX: MLG)
Following the announcement made by way of a press release dated October 18,
2007, Malaga is pleased to announce the final distribution ratio of Dynacor
Gold Mines' common shares.
Malaga holds 20,000,000 common shares of Dynacor Gold Mines Inc. and is
distributing 16,000,000 shares (80%) to its shareholders.
The final distribution ratio was determined based upon the number of
common shares of Malaga issued and outstanding as of the Record Date
(136,753,767 shares). Consequently, Malaga shareholders of record as of the
close of business on October 26, 2007 (the "Record Date"), are entitled to
receive, by way of a stock dividend, 1 common share of Dynacor Gold Mines Inc.
for each 8.5471 common shares of Malaga held on the Record Date.
The creation of this new company underlines the importance that Malaga's
management attaches to maximizing value for its shareholders and implementing
strategies that lead to increased profits. Indeed, two distinct companies can
better focus their individual efforts on increasing the value of their assets,
their products in the marketplace and consequently the value of their shares.
Furthermore, the spin-off of Malaga's gold assets into a separate company
allows the investor to choose between two distinct investment options.
ABOUT DYNACOR GOLD MINES INC.
Dynacor Gold Mines Inc. is a gold exploration and mining company, which
has been operating in Peru since 1996 (originally as Dynacor Mines Inc.). The
Company operates and owns 100% of a custom gold milling plant located on the
Acari property. It also owns the Acari, Tumipampa and Casaden exploration
properties in Peru. In 2006, the Acari Plant produced more than 14,300 ounces
of gold. The milling capacity of the plant was increased in 2007 to 100 tons
per day (2006 - 60 tons/day) and the amount of gold that has been milled in
2007 has sharply increased.
ABOUT MALAGA INC.
Malaga Inc. is a tungsten mining company which focuses on efficient and
productive mining practices. The company is committed to growth, through
increasing its tungsten concentrate production, continuing the exploration of
the Pasto Bueno property, and through strategic acquisitions. It also seeks
diverse growth opportunities such as developing the hydroelectric potential of
the Pasto Bueno property, through Hidropesac S.A., in which the Company holds
For further information:
For further information: Jean Martineau, President & CEO, Malaga Inc.,
(514) 288-3224; Christina Lalli, Investor Relations, Malaga Inc., (514)
288-3224 ext. 224; Renmark Financial Communications: Barbara Komorowski :
email@example.com; Tina Cameron :
firstname.lastname@example.org; (514) 939-3989, Fax: (514) 939-3717,