Medoro Announces Additional Issuance of Shares ...

Medoro Announces Additional Issuance of Shares for Debt

 

    TORONTO, April 19 /CNW/ - Medoro Resources Ltd. (TSX-V/AIM: MRL)

announced that it has reached agreement with a consultant to the Company to

have a portion of its accrued fees paid through the issuance of shares.

    Under this agreement, accrued obligations as of February 29, 2004

amounting to $28,028 incurred by the company's predecessor, Gold Mines of

Sardinia PLC, have been converted into an aggregate of 56,056 common shares of

the company. This issuance was done at $0.50, the Market Price of the shares

on the TSX Venture Exchange on the day that agreement was reached.

    This brings the total amount of debt retired by the Company to $70,313,

through the issuance of an aggregate of 140,624 shares.

    The issuance of the shares is subject to regulatory approval by the TSX

Venture Exchange.

 

         The TSX Venture Exchange does not accept responsibility for

                  the adequacy or accuracy of this release.

 

    For further information: Peter Volk, Assistant Secretary,

[phone], info(at)medororesources.com

    (MRL.)