Karmin Exploration Inc. completes Shares for Debt Issuance25 November 2006
Karmin Exploration Inc. (TSXV-KAR) (the "Corporation") today announced that it has completed its previously announced issuance of 5,263,157 common shares at a deemed price of $0.285 per share to a non-arm's length party in settlement of debt in the amount of $1,500,000. This transaction has not resulted in any change of control. The shares issued pursuant to this transaction bear a four month hold period.
Karmin Exploration Inc. is a mineral exploration company focused on exploration and development in Brazil. Karmin is publicly traded on the TSX-Venture Exchange under the symbol KAR. The company has 38,453,591 shares outstanding and 40,053,591 shares fully diluted.
The TSX Venture Exchange neither approves nor disapproves of the
information contained in this news release
For further information: William (Bill) Fisher, President & CEO, Karmin Exploration, Tel: (416) 367 0369, Fax: (416) 868 6467, Email: wfisher@karmin.com, Website: www.karmin.com
Source: newswire
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