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MONTORO ARRANGES FINANCING
The Company wishes to announce a $300,000 non-brokered private
placement, $200,000 by the sale of 1,700,000 flow-through units
at $0.12 per unit and $100,000 by the sale of 900,000 non-flow-through
units at $0.11 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 an additional flow-through common
share of the Company for a period of two years. The first year at
14¢, the second year at 15¢. Also an additional non-flow
through, at 12¢ the first year, and 13¢ the second year.
The proceeds from the private placement will be used for exploration
at Red Lake and continued exploration for its cobalt/copper prospect
in Bathurst, New Brunswick and other prospects.
The Company will pay a finder’s fee or commission in accordance
with the policies of the TSX Venture Exchange.
The offering is subject to execution of definitive agreements and
TSX Venture Exchange acceptance.
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