Monumental Energy Makes Strategic Investment into New Zealand Energy Corp.
MONUMENTAL ENERGY MAKES STRATEGIC
INVESTMENT INTO NEW ZEALAND ENERGY
CORP.
VANCOUVER, BC
,
Dec. 12, 2023
/CNW/ - Monumental Energy Corp. ("
Monumental
" or the
"
Company
") (TSXV: MNRG) (FSE: BE5) (OTCQB: MNMRF) announces that it has filed an early
warning report (the "
Early Warning Report
") in respect to its holdings in
New Zealand
Energy Corp.
(TSXV: NZ) ("
NZ
") in conjunction with its market expansion focused on sustainable, clean energy.
Pursuant to NZ's
$2,058,778
non-brokered private placement completed on
December 12, 2023
(the
"
Private Placement
") (see NZ's news release dated
December 12, 2023
), Monumental acquired
1,000,000 common shares of NZ (the "
Shares
") at a price of
$0.38
per Share for a total
subscription price of
$380,000
representing approximately 12.92% of the total issued and
outstanding shares of NZ. Proceeds from the Private Placement are intended to procure long lead
items for the Tariki-5 well and to fund working capital.
Michelle DeCecco
, interim CEO comments,
"Monumental's investment into NZ is driven by a growth plan that includes strategic
alternatives that focus on sustainable, clean energy, analogous to our lithium projects. With an
imminent strategy to explore, drill and produce gas into a fully operational production facility, taking a
position in NZ was an exceptional opportunity for Monumental Energy."
Further information about New Zealand Energy Corp. is available at
www.newzealandenergy.com
and
www.sedarplus.ca
.
Prior to the completion of the Private Placement, Monumental did not own, directly or indirectly, or
exercise control or direction over any securities of NZ. The acquisition of the Shares by Monumental
was made for investment purposes. Subject to applicable laws, Monumental will continue to review
its holdings of NZ's securities, and depending on market conditions, general economic conditions and
industry conditions, NZ's business and financial condition and prospects and/or other relevant
factors, may increase or decrease its investment in the securities of NZ.
This news release is being issued in accordance with National Instrument 62-103 –
The Early
Warning System and Related Take-Over Bid and Insider Reporting Issues
in connection with the
filing of the Early Warning Report. The Early Warning Report has been filed under Monumental's
profile on SEDAR+ and can be viewed at
www.sedarplus.ca
.
Stock Options
The Company also announces the granting of stock options ("
Options
") to certain of its directors,
officers, and consultants to purchase up to an aggregate 2,400,000 common shares of the Company
at a price of
$0
.10 per share for a period of three years. The Options vest immediately.
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
and a
50.01% interest in the Salar De Turi lithium project in
Chile
. 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
,
Interim Chief Executive Officer and Director
Contact Information:
Email:
Max Sali
,
VP Corporate Development and Director
Email:
Website:
www.monumental.energy
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
Certain statements contained in this news release may constitute "forward–looking information or
statements" within the meaning of applicable securities laws, including without limitation, statements
relating to the technical, financial and business prospects of the Company, its projects, investments
and other matters. Generally, forward-looking information can be identified by the use of forward-
looking terminology such as "expects" or "it is expected", or variations of such words and phrases or
statements that certain actions, events or results "will" occur. These forward-looking statements are
subject to a number of risks and uncertainties. Actual results may differ materially from results
contemplated by the forward-looking statements. 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, approvals
and authorizations, capital market conditions, restriction on labour and international travel and supply
chains, increase in costs, volatility of commodity prices, litigation, and failure of counterparties to
perform their contractual obligations. Accordingly, the actual events may differ materially from those
projected in the forward-looking statements. When relying on forward-looking statements to make
decisions, investors and others should carefully consider the foregoing factors and other
uncertainties and should not place undue reliance on such forward-looking statements. The Company
does not undertake to update any forward-looking statements, except as may be required by
applicable securities laws.
SOURCE
Monumental Energy Corp.
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%SEDAR: 00050941E
CO: Monumental Energy Corp.
CNW 08:00e 12-DEC-23