Sept 19 (Reuters) - Metminco Ltd MNC.AX :
* ENTERED INTO BINDING TERM SHEET TO ACQUIRE 100% OF ISSUED CAPITAL OF SUNSHINE METALS LTD
* PROPOSES TO BUY SUNSHINE MINERALS LIMITED THROUGH ISSUE OF SHARES ON A STAGED BASIS
* RECEIVED FIRM COMMITMENTS FOR PLACEMENT OF 135 MILLION METMINCO SHARES AT AN ISSUE PRICE OF AUD0.4C
* EACH RECIPIENT OF PLACEMENT WILL ALSO GET 1 ATTACHING LISTED OPTION AT AUD1.1C PER SHARE FOR EVERY 3 NEW METMINCO SHARES UNDER PLACEMENT
* TO UNDERTAKE RENOUNCEABLE RIGHTS ISSUE TO RAISE UP TO $2.5 MILLION COMPRISING AN OFFER OF 3 SHARES FOR EVERY 5 EXISTING METMINCO SHARES
* DETERMINED THAT CONTINUED ADMISSION TO TRADING OF METMINCO SHARES ON AIM MARKET OF LONDON STOCK EXCHANGE IS NOT IN BEST INTERESTS OF CO
* HAS NOTIFIED LONDON STOCK EXCHANGE OF ITS PREFERRED DATE OF INTENDED CANCELLATION
* METMINCO SHARES WILL NOT BE TRADED ON AIM, AND IT IS EXPECTED THAT TRADING OF ON AIM WILL REMAIN SUSPENDED UNTIL CANCELLATION