International Montoro Resources Inc. (“IMT”) is arranging non-brokered private placement financings for $625,000 in flow-through and non flow-through share issuances. The units being sold are as follows:
Non flow-through:
5,000,000 units at $0.05 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 one year at a price of $0.10 per share. Thereafter in the second
year, two warrants will be required by the holder thereof to purchase one additional
common share at a price of $0.15 per share.
Flow-through:
5,000,000 units at $0.075 per unit. Each unit will consist of one flow-through
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 one year at a price of $0.10 per share. Thereafter in
the second year, two warrants will be required by the holder thereof to purchase
one additional common share at a price of $0.15 per share.
The Company will pay a finder’s fee or commission of 8% in accordance with the policies of the TSX Venture Exchange. The private placement is subject to the approval of the TSX Venture Exchange.
The Company intends to utilize the proceeds of the private placement for further drilling at its Elliot Lake-Ontario uranium property where it recently reported concentrations of rare earth elements in conjunction with uranium and general working capital.
ON BEHALF OF THE BOARD OF DIRECTORS
“Gary Musil”
Gary Musil, President
CEO/Director
International Montoro Resources Inc.
The statements used in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Companies forward-looking statements and expectations.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.