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Midlands Minerals Announces 16% Stake Acquirement by Avion Resources
Midlands Minerals Announces 16% Stake Acquirement by Avion Resources
About this update from King Global Ventures Inc.
[{"type":"text","content":"\nMidlands Minerals Announces 16% Stake Acquirement by Avion Resources\n\n\n May 13, 2009 (Baystreet.ca) -- TORONTO, ONTARIO -- Avion Resources Corp. (\"Avion\") (TSX VENTURE: AVR) has entered into an agreement to acquire a 16% interest in Midlands Minerals Corporation (TSX VENTURE: MEX) (\"Midlands\" or the \"Company\"). As part of a share exchange, Avion has agreed to purchase from RAB Special Situations (Master) Fund Limited a total of 8,581,000 common shares in the capital of Midlands in exchange for the issuance of 4,290,500 common shares of Avion Resources.\n\nBased on approximately 53.6 million common shares of Midlands being issued and outstanding, according to the TSX website, Avion's proposed shareholding of 8,581,000 common shares represents approximately 16% of the issued and outstanding common shares of Midlands. \nThe acquisition of an interest in Midlands is consistent with Avion's growth strategy in Western Africa through strategic acquisitions and accelerated development. Avion believes that Midlands' Sian project offers promising exploration potential. \nClosing of this purchase of Midlands common shares will be subject to final approval of the TSX Venture Exchange. Avion Resources may seek to acquire additional securities through market transactions, private placements, treasury issuances or otherwise as circumstances or market conditions warrant or arise. \nABOUT MIDLANDS MINERALS \nMidlands is a growth oriented and value based gold exploration company operating in Ghana and Tanzania, two stable countries with a history of gold mining. Midlands' top priority project is the fully permitted Sian gold project in Ghana. The Sian property contains Esaase and Ampeha, two previously producing open pit mines with a resource with exceptional growth potential. Midlands' contiguous Kwahu Praso project, which was once part of Sian, contains extensions of the Esaase and Ampeha trends. Sian and Praso are just 30 kilometres northeast of Newmont Mining's +8.7 million Akyem gold deposit on the Ashanti Gold Belt. Midlands also holds highly prospective licences for gold and diamonds in the Lake Victoria Goldfields in Tanzania. \nThe Company has a highly qualified management and technical team with extensive experience in the countries in which the Company operates. For more information on the Company, please visit Midlands' web...