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VANCOUVER, Feb. 9 /CNW/ - Mira Resources Corp. (NEX: MRP-H) (the "Company") announces that further to its press release of February 5, 2010, the Company continues to be in active negotiations with the Ghana National Petroleum Corporation ("GNPC") with respect to the proposed acquisition by the Company of the onshore Tano Basin concession (the "Onshore Tano Basin Concession") in Ghana. The Company believes that it has demonstrated to the GNPC its financial and technical capabilities and continues to follow due process for the granting of the concession. The Company anticipates that a memorandum of understanding between the Company and the GNPC setting forth the terms and conditions of the acquisition will be entered into shortly.
The Company also announces that the previously announced CDN$320,000 bridge loan with Jay King has, at the option of the holder, been converted into 1,066,666 common shares of the Company. The common shares issued pursuant to the bridge loan are subject to a hold period that will expire on March 10, 2010.
Further details regarding the Onshore Tano Basin Concession and ancillary transactions relating to the acquisition of such concession will be contained in press releases to be issued by the Company from time to time and the filing statement to be prepared in connection with the Company's application to reactivate its common shares for trading on the TSX Venture Exchange.
Cautionary Note Regarding Forward-Looking Statements
This press release includes certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities laws. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual events and results to differ materially from the Company's expectations include; timing of the memorandum of understanding with respect to the Onshore Tano Basin Concession and ratification by the Parliament of Ghana, if at all; risks related to the Company's reactivation on the TSX Venture Exchange, if at all; risks related to the exploration stage of the Company's projects; market fluctuations in prices for securities of exploration stage companies; and uncertainties about the availability of additional financing.
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 MIRA RESOURCES CORP.
For further information: For further information: Johnathan More, President and CEO, Telephone: (604) 687-7742; Facsimile: (604) 662-3904