NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES, OR DISSEMINATION IN THE UNITED STATES.
TSX VENTURE EXCHANGE = MTO
226,639,754 outstanding shares
VAL-D'OR, QC, April 19, 2012 /PRNewswire/ - Metanor Resources Inc. ("Metanor") (TSXV: MTO) is pleased to announce the execution, on April 16, 2012 (the "Execution Date"), of a 12% interest loan agreement of $7,000,000 with Investissement Québec ("IQ") providing the issuance of a total of 2,640,392 shares.
Metanor will use the proceeds of the loan on the development of the Bachelor Mine Project and for general working capital purposes.
Serge Roy, Chairman and CEO and Ghislan Morin, President and COO both stated, "We are happy of the confidence of Investissement Québec in the Corporation, its employees and the Bachelor Mine Project and of their investment of $7,000,000."
All securities issued are subject to a holding period of four months and one day from the date of issuance of shares.
The Shares have not been registered under the United States Securities Act of 1933 (the "Act") and may not be offered or sold absent of registration under the Act or an applicable exemption from registration requirements thereof. This press release does not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction or an exemption therefrom.
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 Metanor Resources