Montan Mining Corp. (TSXV:MNY; FSE:S5GM) (“Montan” or the “Company”) is pleased to announce that it has arranged a private placement financing (the “Financing”) of up to 8,000,000 units at a price of $0.05 per unit for total gross proceeds of up to $400,000. Each unit consists of one common share and a whole warrant, with each whole warrant exercisable into one additional common share at $0.06 per share for one (1) year after the closing date.
The Company intends to use the net proceeds of the Financing for expenditure related to preparations for recapitalising its Cerro Dorado mill and for corporate working capital.
Finders’ fees will be payable to eligible individuals and entities in connection with the Financing in accordance with the policies of the TSX Venture Exchange. The private placement is subject to approval of the TSX Venture Exchange.
About Montan Mining Corp.
Montan Mining Corp. is an emerging gold producer focusing on ensuring near term cash flow from its mining assets in Peru. The company is backed by an experienced management team with diverse technical, market, and finance expertise and is supported by committed and sophisticated investors focused on building long term value, now anchored by Lions Bay Capital Inc.
| On behalf of the Board of Montan.
Ian Graham CEO and Director Tel: +1.604.671.1353 Email: igraham@montanmining.ca |
For more information, please visit the corporate website at http://www.montanmining.ca or contact:
Investor Contact:
Luis F. Zapata
Executive Chairman
Tel: +1.604.358.1382
Tel: +51.999.968.827 (Peru)
Email: lzapata@montanmining.ca
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Cautionary Statement Regarding Forward-Looking Information
This news release contains statements which are, or may be deemed to be, “forward-looking information” which are prospective in nature. Such information in this news release includes statements regarding the Company’s plans to conduct the Private Placement. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause Montan’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Important risks that could cause Montan’s actual results, performance or achievements to differ materially from Montan’s expectations include, among other things: failure of the Private Placement to be arranged on the proposed terms or at all; unanticipated delays in obtaining or failure to obtain regulatory or stock exchange approvals; availability of capital and financing to maintain the Company’s operations and plans; general economic, market or business conditions; regulatory changes; and other risks detailed herein and in Montan’s continuous disclosure filings, which are available on SEDAR at www.sedar.com. Other than in accordance with regulatory obligations, Montan is not under any obligation and Montan expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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