VANCOUVER, BRITISH COLUMBIA, Aug 31, 2011 (MARKETWIRE via COMTEX) — Mundoro Capital Inc. (“Mundoro” or the “Company”) announces that a special meeting of Company shareholders has been called for October 4, 2011 at 11:00 AM at the Company’s corporate office, Suite #1401 – 1030 West Georgia Street, Vancouver (the “Special Meeting”). A Management Information Circular dated August 30, 2011 (the “Circular”), discussing the Proposed Strategic Transaction (as defined below) to be considered at the Special Meeting and voting instructions has been filed on SEDAR under the Company’s profile at www.sedar.com and is available through the Company’s website www.mundoro.com . The record date for shareholders entitled to vote at the Special Meeting is August 30, 2011. The Circular is expected to be mailed to the Company’s shareholders by September 6, 2011.
Special Meeting of Mundoro Shareholders
On August 2, 2011, the Company announced that it had entered into a definitive share purchase agreement (“Share Purchase Agreement”) with China National Gold Group Hong Kong Limited (“CNGHK”), a wholly- owned subsidiary of China National Gold Group Corporation. Pursuant to the Share Purchase Agreement, CNGHK will acquire 95% of the issued and outstanding shares of Mundoro Mining Inc. (“MMI”), the Company’s wholly owned subsidiary, for a cash purchase price of CDN$13,800,000 (the “Proposed Strategic Transaction”). The Company will retain 5% of the issued and outstanding shares of MMI. The completion of the Proposed Strategic Transaction is subject to a number of conditions, including approval by special resolution of the Company’s shareholders.
The Company encourages shareholders to read the materials in the Circular carefully. The board of directors of Mundoro (the “Board”) is of the view that this Proposed Strategic Transaction is the best currently available alternative for Mundoro. After careful consideration, the Board has unanimously determined that the Proposed Strategic Transaction is in the best interests of Mundoro and its shareholders. Accordingly, the Board unanimously recommends that shareholders VOTE FOR the special resolution approving the Proposed Strategic Transaction.
Laurel Hill Advisory Group
Mundoro has retained Laurel Hill Advisory Group (“Laurel Hill”) to act as a proxy solicitation agent and to assist with the Special Meeting of the Company shareholders. For shareholder inquiries regarding the special meeting, please contact Laurel Hill at 1-866-304-0211 toll-free in North America or 416-304-0211 outside North America.
On behalf of the Company,
Teo Dechev, Chief Executive Officer and President
About Mundoro Capital Inc.
Mundoro is a Canadian based company which operates as a mineral exploration, development and investment company. The Company has an interest in the Maoling Gold Project, which is a prefeasibility stage project with a significant gold resource in Liaoning, China, through its wholly owned subsidiary MMI. The Company has entered into a Share Purchase Agreement to sell 95% of the issued and outstanding shares of MMI to China National Gold Group Hong Kong Limited. The Company will retain 5% of the issued and outstanding shares of MMI. Mundoro has an active project generation program in Mexico where it has been granted title for the Cuencame Property (approximately 43,000 hectares) and has made application for eight additional mineral concessions in Durango State. Mundoro is well funded to advance its projects with approximately US$8.3 million in cash and cash equivalents. Mundoro has 38.4 million shares issued and outstanding and 40.6 million shares on a fully diluted basis.
Forward-Looking Statements
The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading “Risk Factors” in the company’s periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.
The TSX has neither approved nor disapproved of the information contained herein.
Contacts:
Mundoro Capital Inc.
+1-604-669-8055
604-669-8056 (FAX)
[email protected]www.mundoro.com
