Menika Completes Private Placement and Management Changes
MENIKA MINING LTD.
313-515 West Pender Street Vancouver, BC V6B 6H5 Office: (604) 681-0004 Fax: (604) 681-0014
News Release
MENIKA COMPLETES PRIVATE PLACEMENT AND MANAGEMENT CHANGES
August 29, 2013 – Vancouver, British Columbia. Menika Mining Ltd. (the "Company") (TSXV: MML) is pleased to announce that it has completed its previously announced private placement for gross proceeds of $57,500. Under the terms of the private placement, the Company issued 11,500,000 common shares at a price of $0.005 per share. The private placement was conducted pursuant to the TSX Venture Exchange Temporary Relief Measures bulletin, for which the Company has received the Exchange's conditional approval. The private placement has been approved by the Company's board of directors, none of whom have a direct interest in the offering.
All securities issued in the offering will be subject to a hold period expiring on December 29, 2013. Proceeds of the offering will be used to pay off certain accrued debts of the Company owing to service providers and for general and administrative purposes.
The Company also wishes to announce that effective as of August 28, 2013, Charles Boitard, Doreen Boitard, David Mark, William Richard Bergey and Linda Smith have resigned as directors of the Company and Anita Algie, Richard Ko and Samantha Stewart have been appointed in their place. The board of directors of the Company now consists of Anita Algie, Richard Ko, Samantha Stewart and Leopold Lindinger. Ms. Algie has been appointed President, Chief Executive Officer and Corporate Secretary and Mr. Ko has been appointed as Chief Financial Officer of the Company. The Company extends their utmost appreciation to the previous members of the board for their service.
Ms. Algie graduated from the University of British Columbia and has over 10 years of experience in management, listings, corporate structure and mergers and acquisitions for exploration and resource based public companies. Ms Algie has successfully completed three CPC Qualifying Transactions. She is currently also President & CEO of Unity Energy Corp. (UTY-TSXV), Patrone Gold Corp. (AUR-TSXV) and a director of Deloro Resources Ltd. (DLL-TSXV) and Titus Energy Corp. (TIS-TSXV). Ms. Algie was formerly a director of Alderon Resource Corp. (ADV-TSXV), Aroway Minerals Inc. (ARW-TSXV), and August Metal Corp. (AGP-TSXV).
Mr. Ko is a CA with over ten years of experience working with public companies and as a independent businessman. He is currently on the board of several public companies.
Ms. Stewart graduated from Simon Fraser University with a Bachelor’s Degree in Arts and Sciences in 2010, specializing in the field of Communications. Ms. Stewart works with Tellford Management Ltd, providing corporate secretary and corporate communications services to various public companies and serves as a director for several private mining exploration companies. She is currently also the president of G. Santos Geoscience Ltd., a mineral exploration service provider, focused on the Athabasca Basin and a director of Titus Energy Corp. (TIS- TSXV).
ON BEHALF OF THE BOARD OF DIRECTORS
“Anita Algie”
Anita Algie President & Chief Executive Officer
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 of this release.