| INTERNATIONAL
MONTORO RESOURCES INC. ANNOUNCES AMENDMENT OF PRIVATE PLACEMENT TERMS
International Montoro Resources Inc. (“IMT”) has amended
its previously disclosed private placement as a reflection of overall
resource market conditions in recent weeks.
The non-brokered private placement will now consist of 2.4 million
units at $0.25 per unit (previously announced $0.31 per unit) for
total gross proceeds of $600,000. Each unit is comprised of one
common share and one common share purchase warrant (exercisable
for two years at a price of $0.30 per share in the first year and
$0.40 per share in the second year). The proceeds will be used for
further property acquisitions and working capital.
These transactions are subject to the approval of the TSX Venture
Exchange. Finders fee will be paid on a portion of the financing.
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