MONTREAL, QUEBEC--(Marketwire - Feb. 16, 2010) - MDN Inc. (TSX:MDN) announces that it has increased its participation in Minéraux Crevier Inc. (MCI) from 38.5% to 67.5% by acquiring the equity interests of minority shareholders. The two shareholders of MCI are now MDN with 67.5% and IAMGOLD with 32.5%.
The acquisition was paid in cash for an amount of $582,750 and by the issuance of 3,349,777 common shares of MDN Inc.
As a reminder, MCI holds 100% of a niobium and tantalum project, located north of Lac St-Jean in the province of Quebec. A feasibility study on the project is currently ongoing.
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