Business
Malaga inc. announces the final distribution ratio of Dynacor Gold Mines common shares
Malaga inc. announces the final distribution ratio of Dynacor Gold Mines common shares.
About this update from Dynacor Group Inc
[{"type":"text","content":"\n\n\n\nMalaga Inc. (malaga)\n\n\nSymbol: MLG\n\n\nToronto Stock Exchange(TSX)\n\n\nMONTREAL, Oct. 30 /CNW Telbec/ - Malaga Inc. ("Malaga") (TSX: MLG)\nFollowing the announcement made by way of a press release dated October 18,\n2007, Malaga is pleased to announce the final distribution ratio of Dynacor\nGold Mines' common shares.\n\n\nMalaga holds 20,000,000 common shares of Dynacor Gold Mines Inc. and is\ndistributing 16,000,000 shares (80%) to its shareholders.\n\n\nThe final distribution ratio was determined based upon the number of\ncommon shares of Malaga issued and outstanding as of the Record Date\n(136,753,767 shares). Consequently, Malaga shareholders of record as of the\nclose of business on October 26, 2007 (the "Record Date"), are entitled to\nreceive, by way of a stock dividend, 1 common share of Dynacor Gold Mines Inc.\nfor each 8.5471 common shares of Malaga held on the Record Date.\n\n\nThe creation of this new company underlines the importance that Malaga's\nmanagement attaches to maximizing value for its shareholders and implementing\nstrategies that lead to increased profits. Indeed, two distinct companies can\nbetter focus their individual efforts on increasing the value of their assets,\ntheir products in the marketplace and consequently the value of their shares.\nFurthermore, the spin-off of Malaga's gold assets into a separate company\nallows the investor to choose between two distinct investment options.\n\n\nABOUT DYNACOR GOLD MINES INC.\n\n\nDynacor Gold Mines Inc. is a gold exploration and mining company, which\nhas been operating in Peru since 1996 (originally as Dynacor Mines Inc.). The\nCompany operates and owns 100% of a custom gold milling plant located on the\nAcari property. It also owns the Acari, Tumipampa and Casaden exploration\nproperties in Peru. In 2006, the Acari Plant produced more than 14,300 ounces\nof gold. The milling capacity of the plant was increased in 2007 to 100 tons\nper day (2006 - 60 tons/day) and the amount of gold that has been milled in\n2007 has sharply increased.\n\n\nABOUT MALAGA INC.\n\n\nMalaga Inc. is a tungsten mining company which focuses on efficient and\nproductive mining practices. The company is committed to growth, through\nincreasing its tungsten concentrate production, continuing the exploration of\nthe Pasto Bueno property, and throu...