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Matamec Explorations inc.: Matamec Has Negotiated New Terms for the Two Existing Debentures!
MONTREAL, QUEBEC--(Marketwire - Sept. 18, 2009) - Matamec Explorations Inc. (TSX VENTURE:MAT) ("Matamec") is pleased to announce that subject to the approval of the regulatory authorities and to the Board of Directors of the Company, Matamec has negotiated with the Lender the consolidation of the two debentures into one 14% per annum non secured and non convertible debenture in the amount, principal and interest as at September 17th, 2009, of $1,298,405.09, maturing on August 31, 2010, in consideration of the issuance to the Lender of 2,164,008 common shares of Matamec.
About Matamec
Matamec is mainly exploring the Heavy Rare Earth's Kipawa deposit on the Zeus property, located on the Kipawa Alkaline Complex in Temiscamingue, Quebec, and for significant gold deposits in the Timmins mining camp in Ontario, of which the two main targets are the following: Matheson JV with Goldcorp Canada Ltd and Goldcorp Inc., and Montclerg properties.
"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."