Southern Hemisphere Mining Limited

Southern Hemisphere Mining Limited

April 19, 2011 23:20 ET

Southern Hemisphere Announces the Completion of the Iron Sands Project Acquisition

PERTH, WESTERN AUSTRALIA--(Marketwire - April 19, 2011) - Southern Hemisphere Mining Limited (TSX VENTURE:SH)(ASX:SUH) ("Southern Hemisphere" or the "Corporation") wishes to announce that at the Special General Meeting of the Corporation, held on April 18, 2011 disinterested shareholders approved the following ordinary resolution:

"That for the purpose of Listing Rule 10.11 of the Listing Rules of the ASX Limited and for all other purposes, approval is given to the issue of up to 1,301,700 fully paid ordinary shares in the capital of the Company to Centralian Mining Pty Ltd or its nominee in consideration for 25 mineral licences or concessions in Chile (Litu 1 and 2, Conti 1 to 3 and Chan 1 to 20) held by Centralian Mining Pty Ltd."

Centralian is a related party of the Company as it is an entity controlled by three Directors of the Company, Trevor Tennant, James Pearson and Eduardo Valenzuela (or entities associated with them).

The completion of the acquisition of the Iron Sands Concessions pursuant to the terms of the Centralian Agreement was subject to shareholder approval and the approval of the TSX Venture Exchange. An independent expert's opinion on the indicative value of the Iron Sands Concessions was commissioned by the Company. The expert's opinion favourably supported the value of the transaction.

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 press release.

Contact Information

  • Southern Hemisphere Mining Limited
    Trevor Tennant
    +56 (9) 7766 4688

    Clark Kent
    Corporate Communications

    Media Enquiries
    Read Corporate
    Nicholas Read
    +61 (8) 9388 1474