March 12 (Reuters) - De Grey Mining Ltd (DEG) : ANNOUNCES...

March 12 (Reuters) - De Grey Mining Ltd (DEG) :

• ANNOUNCES INTENTION TO INCREASE HOLDING OF SHARES IN DE GREY MINING (DE GREY) FROM CURRENT HOLDING OF 10.7% TO ABOUT 16.4%
• WILL INVOLVE PAYMENT TO DE GREY OF $4.75 MILLION
• ENTERED INTO AGREEMENTS WITH 3 VENDORS FOR PURCHASE OF A TOTAL OF 40.9 MILLION SHARES IN DE GREY
• PURCHASE OF 40.9 MILLION SHARES IN DE GREY IS IN RETURN FOR ISSUE OF 6.5 MILLION DGO SHARES & 3.3 MILLION DGO OPTIONS