July 7, 2017 / 6:05 PM / a year ago

BRIEF-Millenmin Ventures Inc updates proposed reverse takeover transaction involving Cuban Golf Resort Development

July 7 (Reuters) - Millenmin Ventures Inc:

* Says announces update to the proposed reverse takeover transaction involving a private placement and acquisition of a 49% interest in a Cuban Golf Resort Development

* Says since announcing control placement, co has been informed one of four investors would not be able to complete in timely manner

* Says co intends to proceed with control placement with BICL and remaining three investors

* Says control placement will be reduced by 4.5 million common shares and by 74.6 million subscription receipts

* Says BICL agreed to extend term of its $125,000 loan to co, to provide new $1.5 million loan facility to co

* Says on completion of control placement, BICL, other investors to together hold about 61.8 percent of issued, outstanding common shares Source text for Eikon: Further company coverage:

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