Montan Mining Announces Private Placement
NEWS RELEASE
MONTAN MINING ANNOUNCES PRIVATE PLACEMENT
VANCOUVER, BC – April 21, 2016 - MONTAN MINING CORP. (TSX.V: MNY) (“Montan” or the “Company”) today announced has arranged a financing of up to $240,000, with units to be issued at four cents. Each unit will comprise one share and one half share purchase warrant. Each warrant will permit the holder to acquire one additional share at a price of five cents for a period of 24 months after closing. The financing is subject to TSX Venture Exchange approval and, in particular, a waiver of the TSX-V requirement for financings to be priced at five cents or less.
Approximately $100,000 will be expended on the company’s existing property maintenance commitments in Peru, specifically in support of the company’s Alicia Project, approximately $20,000 in bookkeeping and accounting services, approximately $55,000 for regulatory and legal fees and some immediate accounts payable. This balance of this financing will enable the company to continue its project acquisition activities into the 2016 season.
Finders' fees may be paid in accordance with TSX Venture Exchange policies.
Note that in certain circumstances the exchange may later extend the expiry date of the warrants if they are less than the maximum permitted term.
About Montan Mining Corp.
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.
On behalf of the Board of Montan.
Ian Graham CEO and Director MONTAN MINING CORP.
For More Information on Montan Contact:
Ward Kondas
Corporate Development Email: [email protected] Telephone: 778-918-8384
Luis Zapata Executive Chairman Email: [email protected] Peru: + 51-980-782-111 Canada: +1-604-358-1382
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.
SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS This news release includes certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” under applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "schedule" and similar words or expressions, identify forward-looking statements or information. These forward-looking statements relate to, among other things, the anticipated Exchange and regulatory approvals for the waiver of the TSX-V requirement for financings to be priced at five cents or less.
Readers are cautioned against attributing undue certainty to forward-looking statements or information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The parties do not intend, and do not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.