Press Release Source: Delta Mining and Exploration Corp.
Delta Mining and Exploration Converts Debt to Equity Wednesday April 13, 10:00 am ET
LEWISBURG, Ky., April 13 /PRNewswire-FirstCall/ -- Delta Mining and Exploration Corp., (Pink Sheets: DMXP - News) is pleased to announce that it has retired a considerable portion of its existing debt. Furthermore, Dr. Barry Rayment, CEO of Delta Mining, was successful in negotiating a debt to equity conversion where the creditors are accepting common stock at market price rather than a cash payment. ADVERTISEMENT
The groups were owed approximately one hundred and forty thousand (US $140,000) dollars and have chosen to convert that sum to roughly 45 million shares of a combination of registered and unregistered shares of common stock pursuant to SEC Rule 144.
The conversion of this debt is a vital step in negotiating sufficient financing to complete work on the Montana Properties. Of utmost importance is the confidence these groups have displayed in Delta by converting their debt position to equity. Both entities will continue to assist Delta in their plans to commence exploration and enhance shareholder value.
Delta Mining and Exploration Corp, http://www.deltamine.com , is a mineral exploration company with an extensive portfolio of diamond properties in Montana, USA and in Bolivia, South America. Delta controls some 7,500 acres throughout Montana located within the Wyoming Craton where many of North America's diamonds have been found. Another 10,000 acres of prospective diamond properties are controlled in Bolivia, South America.
NOTE: Safe Harbor for Forward-Looking Statements.
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "plan," "confident that," "believe," "scheduled," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, the ability of the Company to complete the planned bridge financing, market conditions, the general acceptance of the Company's products and technologies, competitive factors, timing, and other risks described in the Company's SEC reports and filings.
-------------------------------------------------------------------------------- Source: Delta Mining and Exploration Corp.
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DMXP is hoding up well today over .0044
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<motherofpennies>
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DMXP I have been watching this one. With almost 7mill in volume and the nice news that came out this morning this stock could hit .005 by the end of the week. imo
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<dej8>
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I agree with u mother, DMXP has been on my watch list and after the news yestuday I am going to try and get in before this stock explodes
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DMXP has been holding the .004 well last few days, but now seeing a dip into the 30's. Very good news yesterday, and I believe any dip provides a great opportunity to grab something before the next release.
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Hey Bullze,Wasn't really that much of a dip! I think this could have a nice breakout soon.Looks like it's holding well here and just might be a good time to enter.
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<Alec C>
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DMXP,I agree,right now just might be a good entry.The last news put out was very positive and I think most of the selling is done with for now.Looks like a pretty safe entry at these levels.
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DMXP - for those in - several buys lately @ [b].003[b] - appears to be holding strong in this area.....looking forward to next bounce. Definite hold here, imo.
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