Monumental Energy Increases Strategic Investment IN New Zealand Energy Corp.
MONUMENTAL ENERGY INCREASES STRATEGIC INVESTMENT IN
NEW ZEALAND ENERGY CORP.
News Release - Vancouver, British Columbia – May 10, 2024: Monumental Energy Corp.
(“Monumental” or the “ Company”) (TSX -V: MNRG; FSE : ZA6; OTCQB: MNMRF) is pleased to
announce that it has increased its strategic investment in New Zealand Energy Corp. (TSX-V: NZ) (“NZ”).
Pursuant to NZ’s $ 5,000,000 non-brokered private placement completed on May 9, 2024 (the “Private
Placement”) (see NZ’s news release dated May 9, 2024), Monumental acquired an additional 293,333
common shares of NZ at a price of $0.75 per share for a total subscription price of $220,000. Together with
Monumental’s initial investment in December 2023, the Company holds a total of 1,293,333 common
shares of NZ which represents approximately 8.63% of NZ’s issued and outstanding common shares.
Maximilian Sali, VP Corporate Development and Director of Monumental comments:
“Since our initial investment at the end of last year, NZEC has made great progress in terms of
preparation for oil well workovers at Copper Moki commencing in the second half of May, as well as the
Tariki-5 gas development well scheduled for August. NZEC just closed an upsized $5M private placement
with a lead order from Charlestown Energy Partners, LLC, which demonstrates the caliber of the ir assets
and the promise of significant near -term progress with their proven and committed leadership team.
Monumental now holds nearly 1.3M shares at an average cost base of $0.46, showing that Monumental has
already seen significant value from this strategic investment . I look forward to NZEC’s continued
progress.”
According to NZ’s news release, the net proceeds from the Private Placement will be used to advance NZ’s
plans regarding the Tariki field, where development well Tariki-5 is planned for August 2024, the Copper
Moki field, where production well repairs are under way, the Waihapa field, and for general working capital
purposes.
Further information about New Zealand Energy Corp. is available at www.newzealandenergy.com and
www.sedarplus.ca
Monumental also announces that it has received the funds in full in relation to the closing of the “Turi
Option Agreement Reassignment” to Summit Nanotech.
About Monumental Energy Corp.
Monumental Energy Corp. is an exploration company focused on the acquisition, exploration, and
development of properties in the critical and clean energy sector. The Company has an option to acquire a
75% interest and title to the Laguna cesium -lithium brine project located in Chile. The Company holds a
2% net smelter return royalty on Summit Nanotech’s share of any future lithium production from the Salar
de Turi Project. The Company has an option to acquire a 100% interest in the Jemi HREE project located
in Coahuila, Mexico near the Texas, USA border. The Company owns securities of New Zealand Energy
Corp.
On behalf of the Board of Directors,
/s/ “Michelle DeCecco”
Michelle Dececco, Chief Executive Officer and Director
Email: [email protected]
Contact Information:
Maximilian Sali, VP Corporate Development & Director
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.
Forward Looking Information
This news release includes certain statements that constitute “forward -looking information or statements” within the
meaning of applicable securities law s, which may include, without limitation, statements relating to NZ’s intended
use of proceeds of its recently completed private placement , and other statements relating to the technical, financial
and business prospects of the Company, its projects and other matters . All statements in this news release, other than
statements of historical facts, that address events or developments that the Company expects to occur, are forward-
looking statements. Although the Company believes the expectations expressed in such forward -looking statements
are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may
differ materially from those in the forward-looking statements. Such statements are based on numerous assumptions
regarding present and future business strategies and the environment in which the Company will operate in the future,
including the price of metals and oil and gas , the ability to achieve its goals, that general business and economic
conditions will not change in a material adverse manner and that financing will be available if and when needed and
on reasonable terms. Such forward -looking information reflects the Company’s views with respect to future events
and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation
of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for
unexpected costs and expenses and those other risks filed under the Company’s profile on SEDAR+ at
www.sedarplus.ca. While such estimates and assumptions are considered reasonable by the management of the
Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and
risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but
are not limited to, continued availability of capital and financing and general economic, market or business conditions,
failure to secure personnel and equipment for work programs , adverse weather and climate conditions, risks relating
to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with
specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays
in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to
health, safety and environmental matters), risks relating to inaccurate geological assumptions, failure to maintain all
necessary government permits, approvals and authorizations, failure to obtain surface access agreements or
understandings from local communities, land owners or Indigenous groups, fluctuation in exchange rate s, the impact
of viruses and diseases on the Company’s ability to operate, capital market conditions, restriction on labour and
international travel and supply chains, decrease in the price of rare earth elements, lithium, cesium and other metals,
decrease in the price of oil and gas, loss of key employees, consultants, or directors, failure to obtain and/or maintain
community acceptance (including from the Indigenous communities), increase in costs, litigation, and failure of
counterparties to perform their contractual obligations . The Company does not undertake to update forward‐looking
statements or forward‐looking information, except as required by law.