Mindoro Resources Ltd. (TSXV:MIO,ASX:MDO,FWB:OLM) announced it has signed agreements with several partners at its Agata and Pan de Azucar projects.
As quoted in the press release:
The execution of the joint venture agreements satisfies a key condition in the Heads of Agreement (“HOA”), signed 6 July 2012, for the completion of the proposed private placement involving TVI, as detailed in Mindoro’s 6 July 2012 release. The HOA contemplates that TVI will purchase (in two tranches) a total of 63,115,559 units of Mindoro, at a price per Unit of C$0.05, for a total consideration of C$3,155,778. Mindoro and TVI have agreed to amend the HOA to allow a further extension of the closing date for the first tranche of the private placement to 28 September, 2012. The second tranche of the private placement is subject to satisfaction or waiver of a number of conditions, including receipt of Mindoro shareholder approval at the special meeting of Mindoro shareholders to be held in Calgary, Alberta on 9 October 2012. The board of directors of Mindoro has recommend approval of all resolutions referenced in the notice of meeting posted on 6 July 2012 and mailed to Mindoro shareholders.