Mag Copper Limited
CNSX : QUE

June 27, 2011 17:10 ET

Mag Copper Limited: News Release

TORONTO, ONTARIO--(Marketwire - June 27, 2011) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Mag Copper Limited (the "Company") (CNSX:QUE) announces that the Company has issued 13,500,000 common shares to Globex Mining Enterprises Inc. ("Globex") with respect to its option to acquire a 100% interest in the Magusi and Fabie Bay properties located near Rouyn-Noranda, Quebec.

After giving effect to the above acquisition, Globex beneficially owns an aggregate of 13,500,000 common shares of the Company, representing 42% of the outstanding common shares of the Company.

Globex has acquired the above-noted shares of the Company for investment purposes and Globex may, depending on the market and other conditions, increase its beneficial ownership, control or direction over the common shares or other securities of the Company, through market transactions, private agreements, treasury issuances or otherwise.

Shares Outstanding: 31,614,234

The Canadian National Stock Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Mag Copper Limited
    Mani Verma
    President & CEO
    (647) 524-5135
    (416) 361-2519 (FAX)