International Montoro Resources Arranges Demand Loan of $20,000
VANCOUVER, December 23, 2019 - International Montoro Resources Inc. (TSXV:IMT)(Frankfurt:O4T1), (the "Company") has arranged a demand loan for $20,000 from a non-related party. The proceeds of the loan are to be used for working capital.
The loan bears interest at 1.5% per month. In consideration for the loan, the Company has also agreed to issue 80,000 bonus common shares, at a deemed price of $0.05 per share. The loan and issuance of bonus shares are subject to regulatory approval, and the shares issuable pursuant to the agreement will be subject to a four month +1 day hold period from the date issued.
About International Montoro Resources Inc.
Int. Montoro Resources Inc. listed on the TSX Venture Exchange for over 25 years, is a Canadian based emerging resource company. The Company is systematically exploring its extensive property positions in:
- Red Lake, Ontario ( Camping Lake - Au potential acquisition);
- Elliot Lake, Ontario (Serpent River/Pecors -Ni-Cu-PGE discovery) & (Uranium- REE's);
- Quebec (Duhamel -Ni-Cu-Co prospect & Titanium, Vanadium, and Chromium potential);
- Prince George, British Columbia (Wicheeda North - Rare Earth Elements prospect);
- Uranium City, Saskatchewan (Crackingstone -50% Interest in Uranium discovery).
ON BEHALF OF THE BOARD
"Gary Musil"
Gary Musil,
President/CEO and Director
Disclaimer for Forward-Looking Information:
Certain statements in this release are forward-looking statements which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect.
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.