Iberian Minerals Ltd.

Iberian Minerals Ltd.

November 05, 2014 11:32 ET

Iberian Minerals Announces $275,000 Non-Convertible Secured Debenture Financing and Amends Previously Issued Debentures

CALGARY, ALBERTA--(Marketwired - Nov. 5, 2014) - Iberian Minerals Ltd., formerly Solid Resources Ltd. ("Company") (TSX VENTURE:IML)(OTCQB:SLDRF) announces it is proposing a debt offering of secured non-convertible debentures of the Company for aggregate gross proceeds of up to CDN $270,000 The offering is subject to approval by the TSX Venture Exchange. The debentures will mature on October 31, 2015 and will bear interest at the rate of 15% per annum.

Further to its news releases dated August 13, 2014 and August 15, 2014, the Company has amended the terms of debentures sold pursuant to a previous debt offering such that the maturity date of such debentures has been extended to mature on October 31, 2015. All other terms of the debentures remain the same. These original debentures will rank equally with those being sold under the Company's second debt offering discussed above.

The Company can redeem the debentures at any time upon ten days prior written notice. The payment of the debentures shall be secured by a security interest granted by the Company in respect of all present and after-acquired personal property of the Company, excluding the shares held of its foreign subsidiaries.

Subscribers will be entitled to receive a bonus of common shares which number will be equal to 10% of the principal amount subscribed for, divided by $0.10.

Bonus shares are subject to resale restrictions in Canada that expires four months plus one day from the closing date.

The Company intends to expend the proceeds of the debt offering for general corporate and working capital purposes.

The Company also announces a settlement of debt of CDN$70,260.62 to arm's length parties by way of the issuance of 800,000 shares at a deemed price of $0.088 per share subject to approval of the TSX Venture Exchange.

About Iberian Minerals

Iberian Minerals is a Canadian junior mining company focused in Spain on the exploration and development of rare and industrial metals. The Company is currently studying the re-opening of the Cehegín iron ore concessions in south-eastern Spain and is applying for an exploitation permit on its Alberta-1 tantalum/tin and lithium property in north-western Spain. For further information go to www.iberianminerals.ca.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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