Monterey Minerals Inc announced a non-brokered private placement of up to 5,600,000 units at a price of CAD 0.25 per unit for the total gross proceeds of CAD 1,400,000 on December 10, 2021. Each unit will consist of one common share and one non-transferrable common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share at a price of CAD 0.35 for a period of 24 months from the date of issue and will be subject to an acceleration clause whereby the Company may force exercise of the warrant any time before the end of the 24- month period if the Monterey share price trades over CAD 0.50 for 10 consecutive days. The company may pay finder's fees consisting of 5% cash and 5% non-transferable warrants in connection with the transaction, subject to compliance with the policies of the Canadian Securities Exchange. All securities issued pursuant to the transaction are subject to a hold period of four months. The transaction is subject to regulatory approvals, including the approval of the Canadian Securities Exchange.