Mispec ups RI mining stake<\/p>\n
TORONTO (Dow Jones): Mispec Resources Inc. said its
\nshareholders have approved the issuance of 20 million shares to
\nPT Hunamas Putra Interbuana and related companies as payment for
\nincreased stakes in several properties in west Java, Indonesia.<\/p>\n
As reported, Mispec plans to increase its stake to 90 percent
\nfrom 30 percent on the Jampang Block, to 90 percent from 65
\npercent on the Jampang East properties and to 85 percent from 65
\npercent on the Pongkor property.<\/p>\n
In a news release, the company said 2 million of the 20
\nmillion shares will be freely tradable, and the remaining 18
\nmillion shares will be subject to hold periods and escrow
\nconditions.<\/p>\n
The company added that it has entered a private placement
\nsubscription agreement for total proceeds of C$750,000. It said
\nit will issue 3 million common shares at 25 Canadian cents a
\nshare and 1.5 million non-transferable share purchase warrants in
\nthe placement. Each warrant will entitle the holder to buy one
\ncommon share at 25 Canadian cents for one year.<\/p>\n
Mispec said the private placement should close shortly and is
\nsubject to regulatory approval.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/mispec-ups-ri-mining-stake-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
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