Montan Mining Corp. Closes Unit Private Placement, Announces Convertible Note Placement
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PRESS RELEASE
MONTAN MINING CORP. CLOSES UNIT PRIVATE PLACEMENT, ANNOUNCES CONVERTIBLE NOTE PLACEMENT
Vancouver, BC, August 25, 2015 – Montan Mining Corp. (TSXv: MNY) (FSE: S5GM) (the “Company” or “Montan”) announces that it has closed its unit private placement announced on June 11, 2015. The Company issued 2,947,778 units (each, a “Unit”) at a price of $0.18 per Unit for gross proceeds of $530,600.04 (the “Offering”). Each Unit consists of one common share and one-half of one non-transferable share purchase warrant (each whole warrant, a “Warrant”), with each Warrant entitling the holder thereof to acquire one additional common share of the Company (each, a “Warrant Share”) for a period of two years from the date of issuance at an exercise price of $0.25 per Warrant Share.
Other details of the private placement were announced in the Company’s news release of July 6, 2015.
The Company also announces that it has arranged for a convertible note private placement of up to $1,000,000 in convertible notes. Each note accrues simple interest at 14% per annum which has been prepaid until Maturity, being one year from issuance. The principal amount of each note is convertible at any time at a price of $0.125 into units of the Company comprising one common share and one common share purchase warrant. Each whole warrant may be exercised at an exercise price of $0.175 into one additional common share of the Company for a period of 2 years from closing of the note financing. The securities issued will be subject to a four month and one day hold period.
Finder’s fees may be payable in connection with the convertible note financing, and the financing is subject to TSX Venture Exchange approval.
The proceeds of the Offering will be used to advance the Company’s operations at the Mollehuaca Gold Processing Plant in anticipation of its acquisition, as announced by the Company on June 11, 2015, and for working capital.
MONTAN MINING CORP.
Ian Graham CEO and Director Ph: 1.604.671.1353 Email: [email protected]
About Montan Mining Corp.
Montan Mining Corp. (TSXv: MNY) (FSE: S5GM) is positioned for growth in Peru through the acquisition and development of advanced and/or cash flow mining opportunities. Montan is backed by an experienced and high-energy management team with diverse technical, market and finance strengths and expertise and is supported by committed and sophisticated investors focused on building value for the long term.
For more information, please visit the corporate website at http://www.montanmining.ca or contact:
Investor Contacts:
Ward Kondas Corporate Development Ph: +1 778 918 8384 Email: [email protected]
Peru / South America:
Luis Zapata Executive Chairman Peru: + 51 980 782 111 Canada: 1.604.358.1382 Email: [email protected]
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 news release.