MDN Inc. (CA:MDN 0.49, +0.01, +2.08%) is a mining exploration and development company having adequate financial resources to develop its promising projects in Quebec and in Tanzania.The company also owns a 67.5% interest in Mineraux Crevier, which owns a property with a NI 43-101 niobium and tantalum resource located in the Lac St-Jean area of Quebec. MDN has an option to increase its equity participation in Mineraux Crevier up to 87.5%. Additional information is available on MDN’s website at www.mdn-mines.com. MDN also remains active in the search for new business opportunities that can raise shareholder value. In addition to its 30% participation in the Tulawaka Gold Mine, MDN is the operator and owner of a majority interest in mineral licenses totalling 621 sq km around the Tulawaka gold mine in Tanzania.
MDN Inc. (CA:MDN 0.49, +0.01, +2.08%) announces that it has increased its participation in Mineraux Crevier Inc. (MCI) from 38.5% to 67.5% by acquiring the equity interests of minority shareholders. The two shareholders of MCI are now MDN with 67.5% and IAMGOLD with 32.5%.
The acquisition was paid in cash for an amount of $582,750 and by the issuance of 3,349,777 common shares of MDN Inc.
As a reminder, MCI holds 100% of a niobium and tantalum project, located north of Lac St-Jean in the province of Quebec. A feasibility study on the project is currently ongoing.
Additional information is available on MDN’s website at www.mdn-mines.com.