February 8, 2010
International Montoro Resources Inc. (“TSX.V –IMT”) (the “Company”) reports further to the TSX Venture Exchange bulletins of January 15th, and February 3, 2010 the completion of the following financings:
Non flow-through:
The Company closed the selling of 7,000,000 non flow-through units in two tranches
as follows:
1st tranche: 5,200,000 units were issued at a price of $0.05 per unit for gross proceeds of $260,000. Each unit consists of one common treasury share and one warrant for the further purchase of one common share at a price of $0.10 up to January 15, 2011. After January 15, 2011 and up to January 15, 2012 it will require two warrants and $0.15 to acquire one NFT common share. All shares and warrants issued carry a hold period from trading until May 16, 2010.
2nd tranche: 1,800,000 units were issued at a price of $0.05 per unit for gross proceeds of $90,000. Each unit consists of one common treasury share and one warrant for further purchase of one common share at a price of $0.10 up to February 3, 2011. After February 3, 2011 and up to February 3, 2012 it will require two warrants and $0.15 to acquire one NFT common share. All shares and warrants issued in the 2nd tranche carry a hold period from trading until June 4, 2010.
Flow-through:
The Company closed the selling of its flow-through units as of December 31,
2009 completing 635,000 units for gross proceeds of $47,625. The units were
issued at a price of $0.075 per unit. Each unit consists of one flow-through
common treasury share and one warrant for the further purchase of one NFT common
share at a price of $0.10 up to January 15, 2011. After January 15, 2011 and
up to January 15, 2012 it will require two warrants and $0.15 to acquire one
NFT common share. All shares and warrants issued carry a hold period from trading
until May 16, 2010.
The Company paid finder’s fee or commission of 8% in accordance with the policies of the TSX Venture Exchange totalling $15,420 and 8,000 brokers share purchase warrants relating to above financings.
The Company intends to utilize the proceeds of the private placement for further exploration of its uranium properties, as well as exploring its recently acquired British Columbia property adjoining an exciting new rare earth discovery, and general working capital which may include further property acquisitions currently under review.
ON BEHALF OF THE BOARD OF DIRECTORS,
”Gary Musil”
Gary Musil, President
CEO/Director
About International Montoro Resources Inc.
International Montoro Resources Inc. is focused on advancing its 100% optioned Elliot Lake uranium project in northern Ontario. In addition the Company is continuing development with Belmont Resources Inc. (50/50) of its Crackingstone –982 ha and Orbit –11,109 ha uranium properties in the Uranium City District – Northern Saskatchewan. The Company also holds 100% interest in the Cup Lake/Donen uranium project in south-central British Columbia and two claim blocks (50/50 with Belmont) in the Central Mineral Belt in Labrador.
For further information phone 604-683-6648, visit the Company website at www.MontoroResources.com and watch the Smartstox interview with President Gary Musil (www.smartstox.com/interviews/imt.php ).
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.