White Mountain Titanium Corporation (OTCMKTS:WMTM) Entered Into Binding Memorandum of Understanding

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Las Vegas, NV -- (SBWIRE) -- 12/23/2013 -- White Mountain Titanium Corporation (OTCMKTS:WMTM) is a business of minerals exploration and development. WMTM explores mineral deposits and its operations are mostly centered in Cerroblanko mining concessions in Vallenar. Titanium attracts the company the most. The company searched cost effective and legal techniques for exploration and extraction of Titanium.

White declared that it entered a Binding Memorandum of Understanding with its Shareholder Group. Under the agreement, the Shareholder Group will offer US$ 10 million to the business through equity financing. The company plans to use this capital for completion of Environmental Impact Study.

The company says that first tranche of financing will be of US$2 million that will close on or before December 13, 2013. The second tranche is of US$ 8 million closing on April 15, 2014.

To find out what OTCMAGIC projects for White Mountain Titanium Corporation for both short term and long term please click here: WMTM

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