GMR Global Mineral Resources Corp. Issues 24M Shares for the Payment of Assets
TORONTO, ONTARIO--(October 18, 2013) - As per the agreements between GMR Global
Mineral Resources Corp. (GXG Markets: GMR) and its debtor, GMR has outstanding
liabilities totaling $2.4 million CAD for the payment of assets. At the
request of the debtor, these liabilities may be converted into new Common
shares at a price of $0.10 CAD per share at any time.
At this time, the debtor has requested the liabilities totaling $2.4 million
CAD be converted into new Common shares at a price of $0.10 CAD per share. This
conversion will result in the issuing of an additional 24,000,000 Common
shares.
Upon the issuance of these shares, the new issued and outstanding share total
will be 44,200,902.
About GMR Global Mineral Resources Corp.
GMR Global Mineral Resources Corp. (GXG Markets: GMR) is a Canadian-based
resource, exploration and development company that primarily redevelops
past-producing gold and silver mining properties. GMR focuses on properties
that were not fully exploited due to old technology or weak precious metal
prices. By implementing modern exploration and extraction methods, GMR's
strategy is to profitably revitalize these mines. For additional information on
the company and its properties, please visit www.globalmineralresources.com.
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
Certain statements above constitute forward-looking statements with respect to
GMR Global Mineral Resources Corp. and affiliated companies. Such
forward-looking statements involve known and unknown risks, uncertainties and
other factors that may cause the actual results, performance or achievements of
the companies to be materially different from any further results, performance
or achievements expressed or implied by such forward-looking statements.