Montoro Reprices Warrants

Posted: October 04, 2018

October 4, 2018 - International Montoro Resources Inc. (TSX-V: IMT) (the "Company").

Warrant Repricings:

As a result of current market conditions, the Company will be making applications to the TSX Venture Exchange (the “Exchange”) to the repricing of 7,905,000 transferable share purchase warrants (the “Warrants”) attached to three private placements completed in 2017/18.  The Warrants described below will be repriced to 6 cents (the “Amended Warrants”), however the expiry date(s) of the Amended Warrants will not be extended past their 2019 & 2020 dates as follows:

  1. October 12/19 – 2,250,000 warrants exercise price from 10 cents to a revised 6.0 cents;
  2. December 17/19 – 2,155,000 warrants exercise price from 10 cents to a revised 6.0 cents;
  3. January 5/20 – 3,500,000 warrants exercise price from 10 cents to a revised 6.0 cents.

As the amended exercise price is not less than the average closing price of the Issuer’s Listed Shares for the ten Trading Days immediately prior to the date of the news releases at the Price Reservation Dates for the originating private placements – No accelerated expiry clause will be attached to the Amended Warrants.

About International Montoro Resources Inc.

Montoro is focused on advancing its 100%-owned Serpent River - Elliot Lake, Northern Ontario, Pecors magnetic anomaly - a potential Ni-Cu-PGE discovery. The southwestern portion of the property has located Uranium/REE mineralization from previous drilling in the general area where Rio Algom discovered uranium. The property comprises 10 mineral claims (115 units), or approximately 1,840 ha

In February 2018 Montoro received approval for the acquisition of the Duhamel, Quebec property.  The Ni-Cu-Co prospect consisted of nine (9) mineral claims comprising 500 ha.  Additional staking and compiling of data has been underway since February, and an updated report of these findings is forthcoming.

In addition the Company owns jointly with Belmont Resources Inc. (50/50) its Crackingstone (982 ha, 2,427 acres) and Orbit (11,109 ha, 27,450 acres) Uranium properties in the Uranium City District, Northern Saskatchewan, and is seeking a joint venture partner to continue development of this advanced property.

 

ON BEHALF OF THE BOARD

“Gary Musil”

Gary Musil,

President/CEO and Director

 

Disclaimer for Forward-Looking Information:

Certain statements in this release are forward-looking statements which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future.  Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements.  No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect.

Neither 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.

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