|July 31, 2013|
Midlands Minerals Corporation Obtains Shareholder Approval for the Sale of Shares of Akroma Gold Company to JV Partner Sian Goldfields Limited and Changes to its Board of Directors
|Toronto, Ontario -- July 31, 2013: Midlands Minerals Corporation ("Midlands" or the "Company") (TSX-V: MEX) is pleased to announce that, further to its June 21, 2013 press release, the sale of shares of Akroma Gold Company Limited ("Akroma") by its wholly owned subsidiary, Harbour Capital Corporation, was approved by the Company's shareholders (the "Shareholders") at its annual and special meeting of Shareholders held today. Midlands will proceed to draw upon the letter of credit delivered by the purchaser, Sian Goldfields Limited ("Sian"), for the remainder of the purchase price of US$3.4 million, less the non-refundable deposit of US$340,000 previously paid by Sian to Midlands.|
The Company is also pleased to announce that the Shareholders of the Company have re-elected Ace Anan Ankomah, James Garcelon, Mark B. Keatley, Craig Pearman, and Nick Tintor as directors for Midlands to hold office until the close of the next annual meeting of Shareholders or until a successor is elected or appointed. John Carruthers and Ralph Lean did not stand for re-election and Midlands wishes to thank them for their contributions to the Company.
About Midlands Minerals Corporation:
Midlands is a Canadian resource company with common shares that trade on the TSXV under the symbol "MEX". Additional information on Midlands can be viewed under the Company's profile at www.sedar.com or on Midlands' website: www.midlandsminerals.com.
FOR ADDITIONAL INFORMATION PLEASE CONTACT
President and CEO
Telephone: +1 604 366 2229
Telephone: +1 416 987 0855
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the receipt of funds under the letter of credit from Sian, the Company's future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to the fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation. Neither the 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.
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