Moly Mines Limited
TSX : MOL
ASX : MOL

Moly Mines Limited

November 19, 2009 10:49 ET

Moly Mines Share Purchase Plan

TORONTO, ONTARIO--(Marketwire - Nov. 19, 2009) -

NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Moly Mines Limited (TSX:MOL)(ASX:MOL) advises that earlier this month Eligible Canadian Shareholders should have received a copy of the short form prospectus and the subscription application (SPP Package) in respect to the Share Purchase Plan (SPP).

Eligible Canadian shareholders who have not received their SPP Package and have not been successful in obtaining information from their broker and are interested in participating in the SPP are urged to contact Natalie Frame, Investor Relations Coordinator for Moly Mines at +1 416 777 1801.

The SPP is open to shareholders who were registered as holders of fully paid ordinary Moly Mines shares as at close of business November 4, 2009.

On October 19, 2009, Moly Mines announced that it had entered into a Subscription Agreement with a major strategic investor, Hanlong Mining Investment Pty Ltd. The Subscription Agreement contains a provision obliging Moly Mines to cap the SPP offer to 20 million Moly Mines shares. If applications under the SPP Offer exceed 20 million shares, Moly Mines will scale back individual applications in proportion to the total excess applications.



Key terms of the SPP are:
- Record date - Close of business November 4, 2009
- Offer closing date - 30 November 2009
- Estimated settlement and allotment date - 4 December 2009
- Deemed Value of Shares - C$0.75
- Minimum application - A$2,000 (C$1,934.60)
- Maximum application - A$15,000 (C$14,509.50)


Subscriptions will be accepted between the Minimum and Maximum application amount in increments of C$967.30.

These press materials do not constitute an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that will contain detailed information about the company and management, as well as financial statements.

THESE PRESS MATERIALS ARE NOT FOR RELEASE IN THE UNITED STATES

Contact Information

  • Moly Mines Limited
    Natalie Frame
    Investor Relations Coordinator
    +1 416 777 1801
    www.molymines.com