Montero Announces Repricing of $1,120,000 Non-Brokered Private Placement
Montero Announces Repricing of $1,120,000 Non-Brokered Private Placement
NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER UNITED STATES NEWSWIRE SERVICES
TORONTO, April 10, 2018 -- Montero Mining and Exploration Ltd. (TSX-V:MON) (“Montero” or the “Corporation”) announced
today that it has repriced its non-brokered private placement of up to $1,120,000 originally announced on February 5, 2018 (the
“Offering”). The private placement will now consist of up to 4,666,666 units (the “Units”) at a price of $0.24 per Unit, for gross
proceeds of approximately $1,120,000. The final closing date, subject to the approval by the TSX Venture (“TSX-V”), will be on
or around April 16, 2018.
Each Unit will consist of one common share ( “Common Share ”) and one common share purchase warrant (“Warrant ”). Each
Warrant will entitle the holder to purchase one common share at a price of $0.32 per common share until the date which is
(18) eighteen months following the closing date of the Offering. The Warrants will be subject to an acceleration provision
whereby if the closing price of the Common Shares on the TSX Venture exchange (“TSX-V”) closes at a minimum of $0.32 per
share for a period of ten (10) consecutive trading days, the Corporation may, at its option, accelerate the expiry date of the
Warrants to the date which is 30 days following the date upon which notice of the accelerated expiry date is provided by the
Corporation to the holders of the Warrants.
Montero intends to use the net proceeds from the Offering for general corporate and working capital purposes.
Completion of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals,
including the approval of the TSX-V and applicable securities regulatory authorities. The securities issued and issuable
pursuant to the Offering will be subject to a four month and one day statutory hold period.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United
States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended,
or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S.
person (as defined in Regulation S under the United States Securities Act) unless registered under the U.S. Securities Act
and applicable state securities laws or an exemption from such registration is available.
Development of Lithium Exploration
Montero is actively seeking to acquire and evaluate new lithium and cobalt properties in Africa to develop its new battery
metals strategy.
About Montero
Montero is a mineral exploration and development company engaged in the identification, acquisition, evaluation and
exploration of mineral properties in Africa. Currently these include Lithium, Tantalum and Tin in Namibia, Phosphates in South
Africa and Rare Earth Elements (REE) in Tanzania. Montero is reviewing and evaluating other opportunities from its operating
base in South Africa. Montero trades on the TSX-V under the symbol MON.
For more information, contact:
Montero Mining and Exploration Ltd.
Dr. Antony Harwood, President and Chief Executive Officer
E-mail: [email protected]
Tel: +1 416 840 9197 | Fax: +1 866 688 4671
www.monteromining.com
Neither 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 release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward
-looking information" within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is
not limited to, statements, projections and estimates with respect to the Offering. Generally, forward-looking information can
be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”,
“scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words
and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be
achieved”. Such information is based on information currently available to Montero and Montero provides no assurance that
actual results will meet management's expectations. Forward-looking information by its very nature involves inherent risks and
uncertainties that may cause the actual results, level of activity, performance, or achievements of Montero to be materially
different from those expressed or implied by such forward-looking information. Actual results relating to, among other things,
approval and completion of the Offering whether or under the terms described above or not, results of exploration, project
development, reclamation and capital costs of Montero’s mineral properties, and Montero’s financial condition and prospects,
could differ materially from those currently anticipated in such statements for many reasons such as: changes in general
economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative,
environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties
encountered in connection with Montero’s activities; and other matters discussed in this news release and in filings made with
securities regulators. This list is not exhaustive of the factors that may affect any of Montero’s forward-looking statements.
These and other factors should be considered carefully and accordingly, readers should not place undue reliance on forward-
looking information. Montero does not undertake to update any forward-looking information, except in accordance with
applicable securities laws.