Esperanza Announces Strategic Investment in Global Minerals Ltd.

Esperanza Resources Corp. (TSXV:EPZ) reports the strategic investment of $1.45 Million in Global Minerals Ltd.

The press release is quoted as saying:

Esperanza subscribed for 8,400,000 common shares resulting in a 19.9% ownership interest in Global. In addition, Esperanza subscribed for all of the Special Warrants, which will convert automatically into 10,933,333 common shares, without payment of additional consideration, upon receipt of approval by Global’s shareholders of Esperanza becoming a ‘control person’ of Global (36.4% ownership interest after giving effect to the conversion of the special warrants into common shares), which approval is to be sought at the Global’s Annual and Special Meeting scheduled to be held on Friday, December 3, 2010. If such shareholder approval is not obtained, the special warrants will convert automatically into a non-convertible secured debenture in the principal amount of $820,000 bearing interest at 8% per annum, with a term of 18 months.

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