MBMI Resources, Inc. (TSXV:MBR) announced a private placement of convertible debentures for gross proceeds of up to CAD 500,000 on April 22, 2013. The debentures issued will carry 12% interest rate per annum and will mature within one year from the date of issue. The debentures will be convertible into the units of the company at CAD 0.05 per unit. Each such unit will consist of one common share and one-half of share purchase warrant. Each such warrant will be exercisable at CAD 0.10 per share for a period of one year after the conversion. The company may pay finders' fees of up to 5% of the gross proceeds a number of finder's warrants equal to 5% of the number of common shares that would be issued upon conversion of the debentures placed. Each such warrant would be exercisable to acquire one common share at a price of CAD 0.10 per share for a period of two years.

On May 10, 2013, the company got conditional approval by the TSX Venture Exchange.