Montoro Arranges Flow-Through Private Placement to Raise $600,000
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jul 25, 2014) - International Montoro Resources Inc. (TSX VENTURE:IMT)(FRANKFURT:O4T)(PINKSHEETS:IMTFF) (the "Company" or "Montoro") is pleased to announce it is arranging a non-brokered flow-through private placement to raise up to $600,000.
The Company will be issuing 5.0 million units at $0.12. Each unit will consist of one flow-through common share and a one year transferable (non -flow through) share purchase warrant. Each full warrant will entitle the holder to purchase one additional common share of the Company for a period of one year at a price of $0.18 per share.
The Company will pay a finder's fee of up to 7.5% in cash or warrants. The financing will be subject to TSX Venture Exchange acceptance.
The financing will be used to continue exploration and drilling on its Pecors Anomaly -Serpent River property near Elliot Lake, Ontario and other mineral properties as required.
About International Montoro Resources Inc.
Montoro is focused on advancing its 100% owned Serpent River - Elliot Lake, Northern Ontario, Uranium/REE project & Pecors magnetic anomaly - potential Ni-Cu-PGE. The property comprises 10 mineral claims (115 units) approx. 1,840 ha.
Montoro has also acquired a 100% interest in 23 mineral claims prospective for Rare Earth Elements, in 2 separate claim blocks covering 18,743 acres (7,585 ha) in the new Tacheeda Lake camp; and 3,330 acres (1,348 ha) Carbo area. Montoro also holds a 100% interest in 5,604 acres (2,268 ha, 5 claims - the Chuchinka property) contiguous to and adjoining the Wicheeda, a previously reported Rare Earth discovery, northeast of Prince George, B.C.
In addition the Company will continue the development with Belmont Resources Inc. (50/50) of its Crackingstone - 2,.427 acres (982 ha) and Orbit - 27,450 acres (11,109 ha) Uranium properties in the Uranium City District - Northern Saskatchewan.
ON BEHALF OF THE BOARD OF DIRECTORS
Gary Musil, President, CEO/Director
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 release. The statements used in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Companies forward-looking statements and expectations.