VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 15, 2012) - Kola Mining Corp. ("Kola Mining" or "the Company") (TSXV:KM)(FRANKFURT:C8M) - Mr. Sergei Dubovik, President & CEO of the Company, announces a debt settlement with Petesteri Enterprises Limited ("Petesteri"). The Company owed to Petesteri US$1,800,000 (one million and eight hundred thousand US dollars) as the principal debt and the interest accrued thereon (the "Debt"). The Company has reached an agreement in principle to settle all amounts owing, including interest, for 4,600,000 (four million and six hundred thousand) units of the Company with each unit comprising a share and a warrant. Each warrant will entitle the holder to purchase an additional share for a period of three years at a price of $0.375 per share. Petesteri is an arm's length investor.
The debt settlement is subject to approval by the TSX Venture Exchange.
Mr. Dubovik stated, "This is a key agreement that has been concluded. The debt burden of the Company has been significantly decreased as a result of this agreement."
To find out more about Kola Mining Corp., please visit the Company website at www.kolamining.com.
On behalf of the Board of Directors of KOLA MINING CORP.
Sergei Dubovik, President and CEONeither 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.
|06:00 AM||BMO Banque privée : Les investisseurs devraient-ils adopter l'adage "Sell in May and Go Away" comme stratégie?|
|06:00 AM||AlterGo exprime des recommandations concernant l'accessibilité universelle de la Ville de Montréal|
|06:00 AM||RAPPEL/Avis aux médias : Le ministre Oliver fera la promotion des avantages économique du développement responsable des ressources naturelles|
|06:00 AM||Bayfield Drills 16.0m of 10.47 g/t Gold and 34.68 g/t Silver on Intrepid Zone in Rainy River, NW Ontario|
|05:00 AM||FrogTape(R) Launches New Website With Updated Design and Social Media Sharing Tools|
|12:01 AM||AMD Amplifies Mobile Experience With Responsive Performance, Rich Graphics, Elite Software and Long Battery Life|
|Wed, May 22, 2013|
|10:40 PM||Goldeye Sets New Meeting Date to Update By-laws, Adopt New Stock Option Plan, and Re-Affirm Shareholder Rights Plan|
|10:02 PM||Mise à jour-Danger pour la santé : Présence possible de la bactérie Salmonella dans certaines avelines (noisettes) en écales ou noix mélangées en écales|
|08:47 PM||Sangoma Reports Results for Third Quarter of Fiscal 2013|
|07:38 PM||Ivanhoe Australia Limited: Proposed Company Name Change to Inova Resources Limited|
|07:02 PM||Calibre Mining Corp. Announces Results of Annual General and Special Meeting|
|07:00 PM||Kariana Resources Inc. Appoints New CEO and Director|
|06:00 PM||Canadian Orebodies Announces Adoption of Advance Notice By-Law|
|05:37 PM||Energy Income Fund Appoints Vestcap Investment Management as Investment Manager|
|05:16 PM||Vanoil Acquires Fluormin Plc.|
|05:01 PM||VIQ Solutions Reports First Quarter 2013 Results|
|05:00 PM||Functional Technologies to Apply for Extension of Creditor Protection Period|
|04:49 PM||Avis aux médias : Le ministre de l'Industrie prononcera une allocution lors d'un événement organisé par Aéro Montréal|
|04:49 PM||Media Advisory: Minister of Industry to Speak at Aero Montreal Event|
|04:44 PM||Pro-Trans Ventures Inc. Announces Resignation of Its President and CEO|
|04:44 PM||Spur Announces Adoption of Advance Notice Policy for Future Shareholder Meetings|
|04:39 PM||Total Energy Services Inc. Reports on Voting from the 2013 Annual and Special Meeting of Shareholders|
|04:38 PM||Exploration Khalkos inc. : Réorientation de la mission corporative sur des projets plus avancés|
|04:38 PM||Khalkos Exploration Inc.: Corporation Mission Shifts Towards More Advanced Projects|
|04:10 PM||IIROC: Resume, Cornerstone Metals Inc.|
|04:03 PM||2013-0507 - Suspension - Ecosse Energy Corp. (ECS)|
|04:03 PM||Leader Energy Services Reports First Quarter 2013 Results|
|04:01 PM||Macro Enterprises Inc. Announces 2013 First Quarter Results and Appointment of Independent Director|
|04:00 PM||Reliant Gold Corp. Announces Filing of Condensed Interim Financial Statements as at and for the Three Months Ended March 31, 2013 and Related Management's Discussion and Analysis|
|03:44 PM||La nouvelle carte électorale fédérale de l'Alberta|
|More Press Releases From Marketwired|