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MarketScreener Homepage  >  Equities  >  TSX VENTURE EXCHANGE  >  Mundoro Capital Inc.    MUN   CA6261351077

MUNDORO CAPITAL INC.

(MUN)
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Mundoro Capital : ANNOUNCES MOU WITH VALE FOR TWO ADDITIONAL EXPLORATION LICENSES IN TIMOK, SERBIA

10/26/2020 | 10:14am EST

Mundoro Capital Inc. (TSXV: MUN, www.mundoro.com) ('Mundoro' or the 'Company'), a generator company with a portfolio of projects focused on copper and gold that generate prospective royalties and near-term revenue, announces it has entered into a binding Memorandum of Understanding ('MOU') with Vale Canada Limited ('Vale') as outlined below.

Teo Dechev, CEO of Mundoro commented, 'Mundoro is pleased to expand its relationship with Vale by signing this binding MOU for the option of two of Mundoro's projects in Timok, Serbia. This broadening relationship reflects (i) the quality projects Mundoro's exploration team has generated and advanced; (ii) the Company's commitment to bring value to the local mineral industry and communities where we operate and (iii) the added value to Mundoro shareholders through generating prospective royalties and near term revenue from our portfolio of projects. Mundoro's business strategy has raised US$13.6 million in partner funded exploration expenditures invested in the local mineral industries where we operate and has generated revenues of US$1.3 million for Mundoro shareholders.'

About Mundoro Capital Inc.

Mundoro is a Canadian listed generator company with a portfolio of projects focused on base and precious metals that generate royalties and near-term mineral revenue. To drive value for shareholders, Mundoro has generated an attractive portfolio of mineral projects primarily focused on copper and gold in Serbia and Bulgaria. Value generated from our mineral properties is through near term revenues from various forms of payments from partners and long term through the generated royalties. The Company's common shares are listed on the TSX Venture Exchange under the symbol MUN.

Caution Concerning Forward-Looking Statements

This News Release contains forward-looking statements. Forward-looking statements can be identified by the use of forward-looking words such as 'will', 'expect', 'intend', 'plan', 'estimate', 'anticipate', 'believe' or 'continue' or similar words or the negative thereof, and include the following: completion of earn-in expenditures, options and completion of a definitive agreement by the parties. The material assumptions that were applied in making the forward looking statements in this News Release include expectations as to the mineral potential of the Company's projects, the Company's future strategy and business plan and execution of the Company's existing plans. We caution readers of this News Release not to place undue reliance on forward looking statements contained in this News Release, as there can be no assurance that they will occur and they are subject to a number of uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include general economic and market conditions, exploration results, commodity prices, changes in law, regulatory processes, the status of Mundoro's assets and financial condition, actions of competitors and the ability to implement business strategies and pursue business opportunities. The forward-looking statements contained in this News Release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this News Release are made as of the date of this News Release and the Board undertakes no obligation to publicly update such forward-looking statements, except as required by law. Shareholders are cautioned that all forward-looking statements involve risks and uncertainties and for a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to the Company's filings with the Canadian securities regulators available on www.sedar.com.

Contact:

Teo Dechev

Tel: +1-604-669-8055

Email: info@mundoro.com

(C) 2020 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
MUNDORO CAPITAL INC. 0.00% 0.155 Delayed Quote.-3.13%
VALE S.A. -0.56% 78 End-of-day quote.46.34%
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Financials
Sales 2019 - - -
Net income 2019 -1,93 M -1,49 M -1,49 M
Net cash 2019 2,77 M 2,14 M 2,14 M
P/E ratio 2019 -6,70x
Yield 2019 -
Capitalization 12,6 M 9,74 M 9,74 M
EV / Sales 2018 -
EV / Sales 2019 -
Nbr of Employees -
Free-Float 96,9%
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Managers
NameTitle
Teodora Dechev President, CEO & Non-Independent Director
John Joseph Hoey Non-Executive Chairman
Christopher Wong Chief Financial Officer
Michael Calyniuk Independent Director
Graham Maxwell Brown Independent Director
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