July 22, 2009
Medoro Resources Ltd. (TSXV: MRS/AIM: MRL) completed an offering of an aggregate of 34,500,000 units for aggregate gross proceeds of $8,625,000. Each unit consisted of one common share of the company and one common share purchase warrant, with each whole warrant being exercisable to acquire one common share at a price of $0.50 for a period of two years from the date of closing. GMP Securities L.P. acted as sole agent on the private placement. Medoro Resources is a gold exploration and development company focused on acquiring properties of merit for potential joint ventures with senior producers. Medoro Resources also holds a 100% interest in the Lo Increible 4A and 4B concessions in Venezuela and interests in eleven gold exploration areas in the Republic of Mali.
Wildeboer Dellelce LLP acted for the agent in connection with the offering with a team that included Perry Dellelce, James Brown, Sanjeev Patel and Alexandra Vazquez (corporate/securities).