Mineral Res. completes issue

Mineral Resources International has completed the issue of $24,450,000 of 6.75% convertible subordinated debentures by way of private placement through Sprott Securities. The debentures have a 10-year term and are convertible at a conversion price of $5.00 for the first seven years and $5.50 for the balance of the term. The debentures are not redeemable for three years, are direct unsecured obligations of mri and are subordinate to all other indebtedness of mri.