Each Unit will consist of one (1) common share and one (1) non-transferable common share purchase warrant (a 'Warrant'). Each Warrant will entitle the holder to purchase one additional common share at a price of
The Financing is subject to regulatory approval and all securities to be issued pursuant to the financing are subject to a four-month hold period under applicable Canadian securities laws. The Company may pay finders' fees consisting of 5% cash and 5% non-transferable warrants in connection with the financing, subject to compliance with the policy of the Canadian Securities Exchange (the 'CSE'). Completion of the private placement and payment of any finders' fees remain subject to the receipt of all necessary regulatory approvals, including approval of the CSE.
The proceeds of the financing will be used to reduce debt and for general working capital purposes.
About
The Company owns the Cobalt Mountain Property (the 'Property') in the
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
Contact:
Tel: +1.416.862.7003
Email: info@montereyminerals.com
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