RE: MBMI - Hold status On second thought this could the final nail in the coffin.
Lets buy out MBMI and then get them delisted.
Gwynneth Gold Limited ("Gwynneth Gold") was included among the investors in this closing. Gwynneth Gold's offices are located at Room 1902, Cheung Kong Center 2 Queen's Road Central, Hong Kong. Gwynneth Gold subscribed for Debentures having a principal amount of $62,500.
Prior to the completion of this closing, Gwynneth Gold owned and controlled 6,833,581 Common Shares, or 18.8% of the common shares then outstanding, and warrants to purchase 800,000 common shares (which, if exercised, would have caused Gwynneth Gold to hold 20.6% of the Company's common shares then outstanding).
With this first closing of this Private Placement, Gwynneth Gold now owns and controls Debentures that, if converted, would result in it owning and controlling 8,083,581 common shares, or 17.3% of the Company's common shares then outstanding, and 1,425,000 common share purchase warrants. If Gwynneth Gold also converted those warrants, it would hold 9,508,581 common shares of the Company, or 19.7% of the common shares then outstanding.
The Debentures were acquired by Gwynneth Gold for investment purposes. They may in the future acquire ownership of, or control over, additional securities of the Company. The number of securities to be acquired and the timing of the acquisition is not currently known.
Harmony Asset Limited, the parent company of Gwynneth Gold, is a joint actor with that company, but exercises no control over the securities of the Company held by Gwynneth Gold.
For further details regarding the securities-holdings of Gwynneth Gold Limited, please see the Early Warning Report to be filed by it (which will be available at www.sedar.com). Copies of that Early Warning Report may be obtained by submitting a request to Gwynneth Gold by telephone at (852) 2545 6883 or by fax at (852) 2544 9833 to the attention of Vincent Cheng.