Due to increased interest, International Montoro Resources Inc. (TSX Venture:
IMT), “Montoro” or the “Company”) has agreed to increase
the number of non flow-through units previously announced in the non-brokered
private placement financing (see news release dated April 16, 2008). The revised
units being sold are as follows:
1) The sale of 4,000,000 non flow-through units at $0.15 per unit. Each unit will consist of one common share and one non-transferable common share purchase warrant. One warrant will entitle the holder thereof to purchase one additional common share of the Company for a period of 180 days at a price of $0.30 per share; and thereafter two (2) warrants will be required to purchase one common share, exercisable for the remaining three hundred sixty -five (365) days.
2) The sale of 2,000,000 flow-through units at $0.20 per unit. Each unit will
consist of one flow-through common share and one non-transferable common share
purchase warrant. The warrant terms and price are the same as those attached
to the non flow-through units indicated above.
The Company intends to utilize the proceeds of the private placement for continued
exploration and drilling on its Elliot Lake-Ontario uranium property, its Uranium
City area properties- Saskatchewan area properties, and general working capital.
The Company will pay a finder’s fee or commission in accordance with the policies of the TSX Venture Exchange. The private placement is subject to the approval of the TSX Venture Exchange.
ON BEHALF OF THE BOARD
Gary Musil, CFO/President/Director
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.