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MONTORO ARRANGES SECOND FINANCING
Montoro wishes to announce a non-brokered private placement of
up to $200,000. Montoro plans to raise $150,000 by the sale of 1,500,000
flow-through units at $0.10 per unit and an additional $50,000 by
the sale of 500,000 non-flow-through units at $0.10 per unit. Each
unit will consist of one common share and one non-transferable share
purchase warrant. One warrant will entitle the holder to purchase
on additional non-flow-through common share of the Company for a
period of three months at a price of $0.12 per share. After three
months it will take two warrants to purchase one additional common
shares of the Company at a price of $0.12 per share until the expiration
of two years from the original issue date of the warrants. The private
placement is subject to the approval of the TSX Venture Exchange.
The proceeds from the private placement will be used for initial
exploration at the Poly property and continued exploration for its
cobalt/copper prospect in Bathurst, New Brunswick.
The Company will pay a finder’s fee or commission in accordance
with the policies of the TSX Venture Exchange.
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