MOE Moto Goldmines

 

TIDMMOE 
 
RNS Number : 6479U 
Moto Goldmines Limited 
29 June 2009 
 
 
 
 
 
 
"Not for dissemination in the United States or through any US newswire service" 
 
 
 
 
NEWS RELEASE 
 
 
 
 
 
 
FOR IMMEDIATE RELEASE 
                       TSX Code - MGL 
June 29, 2009 AIM Code - MOE 
 
 
MOTO ANNOUNCES SIGNING OF TRIPARTITE AGREEMENT AND ISSUE OF SHARES TO ORGAMAN 
 
 
 
 
PERTH, WESTERN AUSTRALIA - Moto Goldmines Limited ("Moto" or the "Company") is 
pleased to announce that the Tripartite Agreement among Moto, l'Office des Mines 
d'Or de Kilo-Moto ("OKIMO"), the Moto Gold Project joint venture company, Kibali 
Goldmines sprl ("Kibali"), and Société d'Organisation, de Participation et de 
Management ("Orgaman") in relation to the assignment of certain debts owed by 
OKIMO to Orgaman (the "OKIMO Loan") has been signed and is effective as of June 
26, 2009 (the "Effective Date"). 
As announced on 31 December 2007, Moto has acquired the OKIMO Loan from Orgaman 
for consideration equal to the face amount of the OKIMO Loan together with 
accrued interest of 8 per cent. per annum (which is US$35,053,465 as at the 
Effective Date), which is payable in three instalments. The first instalment of 
US$10 million is payable within seven business days of the Effective Date, the 
second instalment of US$10 million is payable on the first anniversary of the 
Effective Date and the final instalment of the balance together with accrued 
interest is payable on the second anniversary of the Effective Date. As a 
consequence of the Tripartite Agreement being signed, the charge granted by Moto 
to Orgaman over 10 per cent. of Moto's shares in Kibali has ceased to be 
effective and will be discharged in due course. 
Moto has exercised its right to pay 50 per cent. of the first instalment in Moto 
common shares ("Moto Common Shares") and will issue 1,300,539 Moto Common Shares 
to Orgaman, subject to receipt of regulatory approvals. The number of Moto 
Common Shares to be issued was determined by reference to the volume weighted 
average price of the Moto Common Shares on the TSX for the five trading days 
immediately prior to the Effective Date, converted to US dollars at the Bank of 
Canada's noon rate of exchange on the last day of the five-day period. Moto has 
30 business days from the Effective Date to issue the shares. 
Orgaman has agreed that for twelve months it will not dispose of the Moto Common 
Shares issued to it pursuant to this transaction without first offering such 
shares to Sam Jonah, KBE, Chairman of the Company, and to Moto.  Orgaman has 
also agreed that it will not, without the prior written consent of Moto 
transfer, encumber or otherwise deal in the Moto Common Shares for a period of 4 
months from their date of issue. In any event, pursuant to applicable Canadian 
securities laws, Orgaman will be restricted from selling the Moto Common Shares 
for four months, absent an exemption from registration and prospectus 
requirements. 
William Damseaux and Jean-Claude Damseaux are the controlling shareholders 
of Orgaman. As at today's date, they hold directly 570,290 Moto Common Shares 
and Orgaman holds 10,485,211 Moto Common Shares for a total shareholding of 
11,055,501 Moto Common Shares. Following the issuance of Moto Common Shares to 
Orgaman described above, Orgaman, William Damseaux and Jean-Claude Damseaux as a 
group will hold approximately 11.19% of Moto's then issued share capital. 
 
 
For further information in respect of the Company's activities, please contact: 
 
 
+-----------------------------------------+--------------------------------------+ 
| Andrew Dinning                          | Mark Arnesen                         | 
+-----------------------------------------+--------------------------------------+ 
| President and Chief Operating Officer   | Financial Director and Chief         | 
|                                         | Financial Officer                    | 
+-----------------------------------------+--------------------------------------+ 
| Tel: +61 8 9273 4222                    | Tel: +61 8 9273 4222                 | 
+-----------------------------------------+--------------------------------------+ 
| email: adinning@motogoldmines.com       | email: marnesen@motogoldmines.com    | 
+-----------------------------------------+--------------------------------------+ 
Moto Goldmines Limited website: www.motogoldmines.com 
+-----------------------------------------+--------------------------------------+ 
| Nominated advisor for the purposes of   | RFC Corporate Finance Ltd            | 
| AIM:                                    | Steve Allen                          | 
|                                         | Tel: +61 8 9480 2508                 | 
|                                         | email: Steve.Allen@rfc.com.au        | 
+-----------------------------------------+--------------------------------------+ 
| AIM Broker                              | GMP Securities Europe LLP            | 
|                                         | James Cassley                        | 
|                                         | Tel: +44 207 647 2803                | 
|                                         | email: james.cassley@gmpeurope.com   | 
+-----------------------------------------+--------------------------------------+ 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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