Mundoro Raises Additional $1 Million in Second Tranche of Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 29, 2017) - Mundoro Capital Inc. (TSX VENTURE:MUN), (www.mundoro.com) ("Mundoro" or the "Company") has now closed the second tranche of its non-brokered private placement, raising an additional for $1,004,940 through the issuance of 7,444,000 units at a price of $0.135 per unit. Each unit consists of one common share and one-half of a share purchase warrant, with each full warrant exercisable to acquire a common share at a price of $0.20 for a term of three years. The terms of this second tranche are the same as the terms of first tranche private placement closed on November 30, 2017. No finders fee was paid for the second tranche. Together with the first tranche, Mundoro has successfully raised an aggregate of $2,322,529. The proceeds raised will be used towards project exploration, project acquisitions and general working capital. All securities issued in the private placement are subject to a four month hold period expiring on April 21, 2018.
About Mundoro Capital Inc.
Mundoro is a Canadian mineral exploration and development public company focused on building value for its shareholders through directly investing in mineral projects that have the ability to generate future returns for shareholders. The Company currently holds a diverse portfolio of projects in two European countries as well as an investment in a producing gold mine in Bulgaria and a feasibility stage gold project in China. The Company holds eight 100% owned projects in Serbia,the four Timok North Projects are in option to JOGMEC, and the four Timok South Projects are being advanced by Mundoro.
On behalf of the Company,
Teo Dechev,
Chief Executive Officer, President and Director
Caution Concerning Forward-Looking Statements
This News Release contains forward-looking statements. Forward-looking statements can be identified by the use of forward-looking words such as "will", "would", "could", "expect", "intend", "plan", "estimate", "anticipate", "believe" or "continue" or similar words or the negative thereof. The material assumptions that were applied in making the forward looking statements in this News Release include the amount and timing for completion of the private placement. We caution readers of this News Release not to place undue reliance on forward looking statements contained in this News Release, as there can be no assurance that they will occur and they are subject to a number of uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include general economic and market conditions, exploration results, commodity prices, changes in law, regulatory processes, the status of Mundoro's assets and financial condition, actions of competitors and the ability to implement business strategies and pursue business opportunities. The forward-looking statements contained in this News Release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this News Release are made as of the date of this News Release and the Board undertakes no obligation to publicly update such forward-looking statements,except as required by law. Shareholders are cautioned that all forward-looking statements involve risks and uncertainties and for a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements,refer to the Company's filings with the Canadian securities regulators available on www.sedar.com.
Neither 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.