Magnum d'Or Resources, Inc. (fka MDOR)

[di4]

Magnum Retires Debt Obligations Totaling $927,000 US
Apr 30, 2009 10:22:00 PM


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View Additional ProfilesFORT LAUDERDALE, Fla., April 30 /PRNewswire-FirstCall/ -- Magnum D'Or Resources, Inc. (OTC Bulletin Board: MDOR), a next generation rubber recycling solutions company, announces the company has officially retired, as of April 29, 2009, $927,000 US of $12% Note obligations. This equates to an approximate 55% reduction in the amount of outstanding debt held by investors of the company.


In an effort to continue creating shareholder value, Magnum has reduced the amount of outstanding debt through re-evaluation of its agreements. By exercising certain rights to those obligations the Company and its debtors were able to convert their debt to equity.


We are exceptionally proud of our ability to attract investors and clients in one of the most challenging times our economy has seen since the great depression. This in itself is a testimony to the huge potential of Magnum and the faith individual investors have shown through their investments.


We will be unveiling some stunning new developments in the near future that we believe will truly revolutionize our company and potentially change the way recycled rubber and rubber compounds are brought to the market.


About the upcoming Magnum "21st Century Business Solutions Series":


This series will be aired on CNBC, FOX, Hong Kong's Asia Television, and other Leading Networks. Magnum's North American television broadcast will air on CNBC and Fox Business Network to a combined audience of 114 million cable households.


http://www.magnumresources.net/view-news.php?id=25


About the upcoming "Our Planet and Magnum's Television Series":


This show will be aired multiple times on Fox Business Network, CNN Headline News, Discovery Channel, CNN, MSNBC and Regional News Network, along with other networks.


http://www.magnumresources.net/view-news.php?id=9


Cohen Independent Research Group (CIRG), Wall Street's leading independent research firm, recently initiated unsolicited non-compensated coverage on Magnum D'Or Resources, Inc. They issued a "BUY" recommendation with a Target Price of $2.67 per share. CIRG provides an in-depth analysis, including 5-year financial and valuation projections, on Magnum's business and its significant growth drivers. Research Report and "Buy" recommendation visit: http://www.grass-roots-distribution.com/mdor-report.pdf


Magnum's 98,000+ sq ft facility is located in Magog (Quebec). Magnum currently holds over $130 Million USD in open contracts for the production of rubber nuggets and rubber buffings (mulch).


Magnum/SRI are currently using their advanced technologies to produce next generation rubber recycling solutions for custom compounds, retread compounds, processing aids, advanced state-of-the-art equipment, and reactivated ambient/cryogenic rubber powders for the global market. View recent Mangum/SRI Next Generation Custom Compound positive trials http://magnumresources.net/view-investors.php?id=180


SRI visit http://www.srielastomers.com/


Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995


Statements contained in this document that are not historical fact are forward-looking statements based upon management's current expectations that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. The company is not required to update its forward-looking statements.



Contact:
Magnum D'Or Resources, Inc., Fort Lauderdale
www.magnumresources.net
[e-mail]




SOURCE Magnum D'Or Resources, Inc.



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Magnum D'Or Resources
Inc.
[e-mail]