Mindoro Resources Ltd. (TSX VENTURE:MIO) (FRANKFURT:WKN 906167) reported that the company has closed its previously announced private placement of 25 million units at a price of CAD$0.105 per unit for gross proceeds of $2,625,000.00.

The press release is quoted as saying:

Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share at an exercise price of CAD$0.15 per share for one year from the date of closing. Mindoro is further pleased to announce the appointment of Howard Walker to the board of directors. Howard was appointed an Advisor to the Company in January 2010 and currently serves as the Executive Director of Lion Selection Group Limited.

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Click here to access Mindoro Resources Corporate Site

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