International Montoro Resources Inc. (TSX Venture: IMT), “Montoro” or the “Company”). Further to our news release dated January 14, 2009. As a result of current market conditions, the Company has agreed to amend the warrants attached to the 8,000,000 unit private placement at $0.04 per unit. The Company will decrease the exercise price of the first and second year warrant from $0.10 in the first year and $0.20 in the second year as follows:
-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 $0.06 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 $0.12 per share. In addition, in the third year, two warrants will be required by the holder thereof to purchase one additional common share at a price of $0.20 per share.
The Company intends to utilize the proceeds of the private placement for maintenance of its Uranium City area -Saskatchewan properties, its Elliot Lake-Ontario uranium property, 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.
About International Montoro Resources Inc.
International Montoro Resources is focused on the advancement of its 100-percent
optioned Elliot Lake uranium project in northern Ontario. In addition the Company
(50/50) with Belmont Resources Inc. is developing two significant uranium properties
located in the Uranium City District in Northern Saskatchewan (Crackingstone-982
ha) & (Orbit Lake-11,109 ha). Montoro and Belmont recently optioned 50%
interest in the Crackingstone property to Merrex Gold Inc. (TSX.V –MXI).
Montoro and Belmont also holds (50/50) two properties in the Central Mineral
Belt Uranium District in Labrador.
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.