Montan Mining Competes Private Placement And Shares For Debt Settlement
- Montan Mining closes previously announced private placement for total aggregate proceeds of $500,223- Montan Minining completes shares for debt sttlement
Vancouver, April 13, 2017 - Montan Mining Corp. (TSXv: MNY | FSE: S5GM | SSE: MNYC) ("Montan" or the "Company") is pleased to announce that it has completed its previously announced $500,000 non-brokered private placement financing (the "Financing"). The Financing consisted of 9,094,970 units at $0.055 per unit for total gross proceeds of $500,223. Each unit consists of one common share and a half share purchase warrant, with each warrant exercisable into one additional common share at $0.10 per share for two (2) years after the closing date.
In connection with the Financing, the Company paid finders fees in the aggregate amount of $4,900 in cash. All securities issued in connection with the Financing are subject to a restricted period that expires four months following the date of issuance.
Furthermore, Montan is pleased to announce that it has entered into agreements to issue 982,364 ordinary common shares to settle certain debts owed to an arms-length and a non arms-length party. The Company owes accounts payable to parties amenable to receiving shares for debt of $52,369. In addition, Montan will issue 120,000 bonus common shares related to the loan payable with a private Canadian company entered into on April 5, 2016.
On behalf of the Board of Montan.
Ian Graham
CEO and Director
Tel: +1.604.671.1353
Email: igraham@montanmining.ca
About Montan Mining Corp.
Montan Mining Corp. is an emerging gold producer focusing on monetizing 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 for shareholders.
For more information, please visit the corporate website at http://www.montanmining.ca or contact:
Investor Contact:
Luis F. Zapata
Executive Chairman
Email: lzapata@montanmining.ca
Tel: +1-604-358-1382
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.
Forward-Looking Statements: Certain statements in this press release are forward-looking statements within the meaning of applicable securities laws. Forward-looking statements in this press release include that we will close our acquisition an operation ready gold mine and gold processing plant in the southern Peruvian mining district of Caraveli under a Share Exchange Agreement with Chazel Capital Inc. for the purchase of its 100% owned Peruvian subsidiary Cerro Dorado S.A.C.. Such forward-looking statements and information are subject to risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement. Specific risks included that we may not be able to complete any necessary future financing, or to finance our intended acquisition. We may not be able to become profitable even if we are producing and milling to capacity, profitability depends on revenues and expenses which are not completely controllable; we may not be able to secure mineral feed from other miners; and we may not be able to restart production because of technical or expense issues.
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