VAL-D'OR, QUEBEC--(Marketwired - March 31, 2014) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) announces the issuance of shares in lieu of the monthly payment, for March 2014, to Ressources Quebec (affiliate of Investissement Quebec) in regards to the loan agreement entered into February 27th, 2014.
Pursuant to the agreement, Metanor is issuing 3,266,667 shares for the March 2014 payment as reimbursement on the capital and associated expenses. This share issuance is the only one provided for in the agreement. The share are issued at the deemed price of $0.16 each. More details on the agreement reached February 27th 2014 are available on the website www.sedar.com.
All the shares issued are subject to a hold period of 4 months plus one day, and this transaction is subject to the approval of the TSX Venture Exchange.
Ghislain Morin, President and CEO stated: "We are very pleased with the vote of confidence expressed by our financial partner, and their interest in developing a long-term relationship with Metanor."
Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
270,532,733 outstanding shares