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REACTIVATION AND NEW ACQUISITION
Further to the TSX Venture Exchange (the “Exchange”)
Bulletins dated January 16, 2001 and October 17, 2002, effective
on January 28, 2003, the Exchange advised the Company that it has
completed its reorganization and is no longer deemed Inactive as
per Exchange Policy 2.6
Montoro Resources Inc. wishes to extend sincere thanks to our valued
Shareholders/Investors for your patience, faith and commitment to
Montoro during the past year and especially the last three months
of our halt trading.
Montoro is currently negotiating the acquisition of a further interest
in the Ungava – Raglan area – Northern Quebec and hopes
to release the terms of a Letter of Intent within the next few weeks.
OTHER – OPTIONS GRANTED
Subject to regulatory approvals, incentive stock options have been
granted as to 1.5 million shares at $0.10 for a period of four years.
The options granted cannot be exercised until TSX Exchange approval
has been obtained and any shares issued on the exercise must be
legended with a four month Exchange hold period from this date.
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