MBMI Resources, Inc. (TSXV:MBR) announced a private placement of convertible debentures for gross proceeds of up to CAD 500,000 on April 22, 2013. The debentures issued will carry 12% interest rate per annum and will mature within one year from the date of issue. The debentures will be convertible into the units of the company at CAD 0.05 per unit. Each such unit will consist of one common share and one-half of share purchase warrant. Each such warrant will be exercisable at CAD 0.10 per share for a period of one year after the conversion. The company may pay finders' fees of up to 5% of the gross proceeds a number of finder's warrants equal to 5% of the number of common shares that would be issued upon conversion of the debentures placed. Each such warrant would be exercisable to acquire one common share at a price of CAD 0.10 per share for a period of two years.

On May 10, 2013, the company got conditional approval by the TSX Venture Exchange.

On May 21, 2013, MBMI Resources, Inc. closed the transaction. The company has received CAD 350,000 in funding. The debentures issued will accrue interest at a rate of 12% per annum and will mature on May 17, 2014, one year after issuance. Gwynneth Gold Limited, an entity controlled by Harmony Asset Limited participated in the transaction and subscribed for debentures having a principal amount of CAD 62,500. The transaction is subject to final approval of the TSX Venture Exchange. The securities issued will be subject to a four month hold period expiring September 22, 2013.