January 7, 2010 (FinancialWire) — Magnum D’Or Resources, Inc. (OTCBB: MDOR) has closed the sale $3.5 million of Senior Secured convertible notes due December 2010 to institutional investors

According to Magnum, the capital raise was completed at a conversion price of $1.21 per share, the closing price of its MDOR on Dec 21, 2009.

The company plans to use the net proceeds for general corporate purposes that include procuring equipment to complete production facilities at Hudson, infrastructure improvements, and additional heavy equipment.

Colorado-based Magnum offers rubber recycling solutions. Magnum’s Colorado facility consists of 120 acres of commercially zoned land, buildings, equipment, and inventory of roughly 30 to 40 million tires. The facility is one of the largest tire landfills in the world.

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