TORONTO, April 19, 2012 /CNW/ - Mukuba Resources Limited (TSXV: MKU) reports that Scott Jobin-Bevans has resigned from the board of directors effective immediately. John Hawkrigg, chairman of the board of directors, stated "Scott was a valuable member of the Mukuba team. We sincerely thank him for his efforts and dedication and wish him the best in his future endeavours."
The financing that was the subject of the company's April 17, 2012 press release has closed and convertible debentures (the "Debentures") and underlying securities issued upon conversion of the Debentures will be subject to a hold period that expires on August 18, 2012. As set out in the April 17, 2012 press release, gross proceeds of $398,700 has been received by the company.
About the Company
Mukuba is a Canadian mining company focused on the exploration and development of certain African base metal assets alone and through a joint venture partner. These assets include a 100% interest in the Northcore Project, which is licensed for both copper and cobalt and encompasses approximately 2,274 square km of geologically prospective ground in the Central African Copperbelt region of Zambia. Mukuba is also a party to a joint venture with Benzu Resources Limited to explore and develop a copper and base metals project in the Democratic Republic of the Congo. In addition, Mukuba holds an exclusive option to purchase an 85% interest in the Nyimba Project, a pollymetallic exploration project, located near the town of Nyimba, approximately 300 km east of Lusaka, Zambia.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Securities regulators encourage companies to disclose forward-looking information to help investors understand a company's future prospects. This press release contains statements about our future business and planned activities, including the expiry of the hold periods to which the Debentures are subject. These are "forward-looking" because we have used what we know and expect today to make a statement about the future. Forward-looking statements usually include words such as may, intend, plan, expect, anticipate, believe or other similar words. We believe the expectations reflected in these forward-looking statements are reasonable. However, actual events and results could be substantially different because of the risks and uncertainties associated with our business or events that happen after the date of this press release. You should not place undue reliance on forward-looking statements. As a general policy, we do not update forward-looking statements except as required by securities laws and regulations.
For further information:
Kelly Ehler, interim President and Chief Executive Officer
Tel: +1 (416) 368 4013; Fax: 416 603 9200; Email: [email protected]