Mundoro Capital Inc.
TSX VENTURE : MUN

Mundoro Capital Inc.

June 19, 2012 12:55 ET

Mundoro Capital Inc. Comments on Dissident Action

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 19, 2012) - Mundoro Capital Inc. (TSX VENTURE:MUN) ("Mundoro" or the "Company") encourages shareholders to ignore overtures from dissident shareholder Northern Minerals Investment Corp. ("NMI") and Allen Lee (also known as Allen Li, Hong Jun Lee or Hong Jun Li). Any solicitation made by the dissidents or any party acting jointly or in concert with them may be illegal and should be reported to the Company at (604) 669-8055 or by email at mtovar@mundoro.com.

The Company's annual general meeting of shareholders (the "Meeting"), originally scheduled to be held on June 26, 2012, was postponed to Monday, August 27, 2012, to ensure a fair and informed election of directors. Shareholders are advised that the Company cannot solicit votes for the Meeting until management information circular is publicly filed. Mundoro will send shareholders management information circular addressing the dissident's baseless allegations and demonstrating the strength of management's director nominees in the coming weeks. In addition, Mundoro will highlight its vision and corporate strategy to develop resource assets and maximize value to shareholders.

Through a public announcement made by NMI on June 18, 2012, Mundoro's suspicions have been confirmed regarding a takeover of the Board by dissident NMI, Allen Lee and potential other parties acting jointly or in concert. Your Company and its advisors continue to investigate the connections among the parties acting jointly or in concert.

Chairman of the Board, Mr. John Hoey commented, "The Company's management and Board are confident that the dissident's allegations are baseless. Given that the dissidents are attempting to change the entire Board of the Company, it is imperative for shareholders to ask what their corporate strategy is for Mundoro and to carefully consider how it differs from that of the current Board and management."

On behalf of the Company,

Teo Dechev, Chief Executive Officer, President and Director

About Mundoro Capital Inc.

Mundoro is a Canadian based company which operates as a mineral acquisition, exploration, development and investment company. The Company's target exploration areas are the Tethyan belt in South Eastern Europe and the Mesa Central Belt in Mexico, both of which are mineral belts the Company believes have strong exploration potential. The Company maintains an interest in the Maoling Gold Project through its 5% interest in Mundoro Mining Inc.

Caution Concerning Forward-Looking Statements

Investors are encouraged to review 'Risk Factors' as outlined in the Company's disclosure documents and other regulatory filings, available on the SEDAR website at www.sedar.com.

The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading "Risk Factors" in the company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Neither 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.

Contact Information

  • Mundoro Capital Inc.
    Teo Dechev
    CEO, President and Director
    +1-604-669-8055
    +1-604-669-8056 (FAX)
    info@mundoro.com