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UPDATE: Mira to Develop Tom Shot Bank; Decides It's Not For Sale; Undertakes $5M Non-Brokered Private Placement; Shares Shed 22%

Mira Resources Corp. (MRP.V) has decided to develop the Tom Shot Bank Field to take it into oil production. Mira owns a 48% interest in the TSB Field. The Board of Directors has also decided that neither Mira nor its assets are for sale and that the process commenced with First Energy Capital to investigate strategic alternatives has been halted.

Mira is raising $5 million by way of a non-brokered private placement of 100,000,000 units at $0.05 per unit.

Mira is down 1.5 cents to 5.5 cents late morning, nearing a yr low of 3.5 cents. More than 1.5 million shares have changed hands.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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