Mineral Mountain Resources Ltd.: First Tranche of Placement Closed
VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 23, 2015) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Mineral Mountain Resources Ltd. ("Mineral Mountain" or the "Company") (TSX VENTURE:MMV)(OTCQX:MNRLF) is pleased to announce that it has closed the first tranche of its private placement first announced on April 17, 2015. The Company issued 6,345,000 units at a price of $0.05 per unit for total gross proceeds of C$317,250. Each unit consists of one common share and one transferable share purchase warrant, each warrant exercisable into one additional common share at a price of $0.09 for a period of 24 months from the date of issue.
The Company paid $22,207.50 in cash and issued 444,150 share purchase warrants in respect of finders' fees on the placement. Each warrant is exercisable into one common share of the Company at a price of $0.09 per share for a period of 24 months from the date of issue.
All securities issued under the placement are subject to statutory hold periods expiring on October 23, 2015.
The proceeds of the placement will be used for exploration and development activities on the Company's mineral properties and for general working capital.
On Behalf of the Board of Directors
MINERAL MOUNTAIN RESOURCES LTD.
"Nelson W. Baker", President and CEO
Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release includes certain statements that may be deemed to be "forward-looking information" under Canadian securities laws. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, constitute forward looking-information. Forward looking information consists of statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking information are based on reasonable assumptions, such information does not constitute guarantees of future performance and actual results may differ materially from those in forward-looking information. Factors that cause the actual results to differ materially from those in forward-looking information include gold prices, results of exploration and development activities, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, continued availability of capital and financing and general economic, market or business conditions. The Company cautions the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the Company's forward-looking information should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. The Company believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct. Please see the public filings of the Company at www.sedar.com for further information.
Contact
Mineral Mountain Resources Ltd.
Brad Baker
Vice-President Corporate Development & Director
(778) 383-3975
bbaker@mineralmtn.com
www.mineralmtn.com