posted
Looking for a nice entry on this one.Volume has arrived and with that comes volatility,and a nice chance to make some dollars.
Posts: 48 | Registered: Mar 2005
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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.
Posts: 110 | Registered: Mar 2005
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posted
Check out DMXP - several buys lately @ [b].003[b] - appears to be holding strong in this area..... Consistent support @ .003 over last several months - looking forward to next bounce. Definite hold here, imo.
Posts: 489 | From: Florida | Registered: Aug 2004
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