MBMI Closes Additional $150,000 Private Placement

MBMI RESOURCES INC. (TSX VENTURE:MBR) reports that further to its April 22, 2010 news release,the company has closed an additional $150,000 and has now received gross proceeds of $1,464,000 in consideration of the issuance of 7,320,000 Units at a price of $0.20 per Unit.

The press release is quoted as saying:

The net proceeds of this financing shall be used for the exploration and development of MBMI’s Philippine nickel mineral properties and for general corporate purposes. Total finders’ fees of $93,730 and 508,000 broker warrants having the same terms as the placees, have been paid in connection with this financing.

Click here to access the entire press release

Click here to access MBMI RESOURCES INC. Corporate Site