Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Oct. 13, 2011) – Zoro Mining Corp. (OTCBB:ZORM) is pleased to announce that on October 5, 2011 the Board of Directors of Zoro Mining Corp., a Nevada corporation (the “Company”), authorized the settlement of debt, consisting of outstanding convertible notes, advances, promissory notes, services, accrued interest and other amounts totaling US$1,090,737 (the “Debt”). Under the terms of the approved agreements the Company will satisfy the Debt with the issuance of 6,543,114 shares of restricted common stock of the Company at a deemed issuance price of US$0.1667 per share for debt associated with cash expenditures advanced to the Company.
More detailed information with respect to Zoro’s projects, corporate information, and leadership team can be found at the company’s website: www.zorominingcorp.com
