Malaga Inc (MLGAF)

[HRUIBAL1]

Malaga Provides Update


MONTREAL, QUEBEC--(Marketwire - Mar 19, 2013) - Malaga Inc. ("Malaga" or the "Corporation") (MLG.TO) announces today that it is examining all possible alternatives to obtain financing or conclude a transaction with a strategic investor that could result in a merger or sale of a portion or all of its assets. Malaga is currently evaluating a formal offer to sell certain assets. The Corporation has sold and monetized a portion of its copper by-product that was stored on site, and expects to sell the balance in the coming months.
In addition, Malaga is currently not capable of discharging all of its financial obligations as they become due. The mine and plant at Pasto Bueno are still on care and maintenance. The Corporation is putting in place additional measures to further reduce costs.
Lastly, Malaga also announces the resignation of Me. Anne-Marie Sheahan from the Board of Directors.