Mineral Mountain Closes Private Placement
Mineral Mountain Closes Private Placement
Announced December 02, 2019
MMV-TSX-V
MNRLF-OTCQX
M8M-
FRANKFURT
VANCOUVER
,
Dec. 5, 2019
/CNW/ - Mineral Mountain Resources Ltd. ("
Mineral Mountain
" or the
"
Company
") (TSXV: "MMV") is pleased to announce that subject to acceptance for filing of the final
documentation by the TSX Venture Exchange ("TSX-V"), it has closed its non-brokered unit ("Unit")
private placement (the "
Private Placement
") announced previously on
December 02, 2019
and has
issued 5,330,600 units of the Company ("
Units
") at a price of
C$0.25
per Unit to raise gross
proceeds of
C$ 1,332,650
. Each Unit consists of one common share of the Company and one
common share purchase warrant (a "
Warrant
"), with each Warrant entitling the holder to purchase
one common share of the Company (a "
Warrant Share
") for a period of one (1) year from closing at
an exercise price of
C$0.40
per Warrant Share.
The net proceeds raised from the Private Placement are intended to be used for the on -going
directional drilling on the Standby Mine property designed to test high grade gold targets and for
general corporate and working capital purposes.
The securities issued pursuant to the Private Placement will be subject to a four month plus one day
hold period in accordance with applicable Canadian securities laws. The Company has agreed to
pay a 7% finders' fee in cash only on a portion of the financing and have added 7% warrants on a
certain portion of this financing in accordance with TSX Venture Exchange policy.
On Behalf of the Board of Directors
MINERAL MOUNTAIN RESOURCES LTD.
"Nelson W. Baker"
, President and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Forward looking information
This release includes certain statements that may be deemed to be "forward-looking information"
under Canadian securities laws. All statements in this release, other than statements of historical
facts, that address events or developments that the Company expects to occur, constitute forward
looking- information. Forward looking information consists of statements that are not historical
facts and are generally, but not always, identified by the words "expects", "plans", "could" or
"should" occur. Although the Company believes the expectations expressed in such forward-
looking information are based on reasonable assumptions, such information does not constitute
guarantees of future performance and actual results may differ materially from those in forward-
looking information. Factors that cause the actual results to differ materially from those in forward-
looking information include gold prices, results of exploration and development activities,
regulatory changes, defects in title, availability of materials and equipment, timeliness of
government approvals, continued availability of capital and financing and general economic,
market or business conditions. The Company cautions the foregoing list of important factors is not
exhaustive. Investors and others who base themselves on the Company's forward-looking
information should carefully consider the above factors as well as the uncertainties they represent
and the risk they entail. The Company believes that the expectations reflected in the forward-
looking information are reasonable, but no assurance can be given that these expectations will
prove to be correct. Please see the public filings of the Company at
www.sedar.com
for further
information.
SOURCE
Mineral Mountain Resources Ltd.
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For further information:
Brad Baker, Vice-President Corporate Development & Director, (778)
383-3975, [email protected], Or visit our website: www.mineralmtn.com
CO: Mineral Mountain Resources Ltd.
CNW 13:09e 05-DEC-19