Montero to hold Special Meeting of Shareholders to approve C$15 million Distribution
Montero to hold Special Meeting of Shareholders to approve
C$15 million Distribution
Toronto, Ontario – June 2, 2025 – Montero Mining and Exploration Ltd. (TSX-V: MON) (OTCPK: MXTRF) (“Montero”
or the “Company ”) reminds shareholders that a Special Meeting of Shareholders (the “Meeting”) will be held
at 9:30am EDT on Wednesday, June 11, 2025, at the offices of Peterson McVicar LLP at 110 Yonge Street, Suite
1601, Toronto, Ontario, Canada.
Shareholders will vote on a proposed approximate ly C$15 million distribution, on a pro rata basis, through a
reduction in stated capital (the “Distribution”). These funds represent part of the net proceeds from the Company’s
US$27 million settlement with the United Republic of Tanzania, which resolved the dispute over the expropriation
of the Wigu Hill rare earth element project.
The Company’s management information circular dated May 7, 2025 (the “Circular”) outlines the details of the
proposed Distribution. Shareholders are encouraged to vote in advance of the Meeting. To guarantee a vote
is recorded, kindly submit the proxy by 9.30 am EDT on Monday, June 9, 2025, in accordance with the
instructions provided in the proxy form.
The Circular, form of prox y and related meeting materials can be access ed on Montero’s issuer profile on SEDAR+
at www.sedarplus.com as well as Montero’s website www.monteromining.com.
About Montero
Montero Mining and Exploration Ltd. is a Canadia n exploration company with a focus o n mineral development in
emerging markets. The Company recently concluded a US$27 million settlement with the Government of Tanzania,
bringing closure to the dispute over the expropriated Wigu Hill rare earth project.
Montero holds the Avispa copper-molybdenum project in northern Chile and is currently advancing the project
through exploration . The Company’s board and management have a strong track record in discovering and
developing precious metal and base metal projects.
Montero is list ed on the TSX Venture Ex change under th e symbol MON an d has 8,353,833 Common Shares and
741,667 stock options outstanding.
For more information, contact:
Montero Mining and Exploration Ltd.
Dr. Tony Harwood, President, and Chief Executive Officer
E-mail: [email protected]
Tel: +1 604 428 7050
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.
All figures are in Canadian dollars unless otherwise noted.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking information"
within the meaning of applicable Canadian securities laws. 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 av ailable 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, the
Corporation’s deployment of capital , business prospects, strategies, regulatory developments, future commodity prices, exchange rates,
satisfactory arrangements for the payment of legal expenses , the ability of the Company to find suitable exploration projects, results of
exploration, project development, reclamation and capital costs of Montero’s mineral properties, and financial condition and prospects, all of
which could differ materially from those currently anticipated in such statements for many reasons such as: the inability to receive shareholder
approval for the Distribution; 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; tech nological and
operational difficulties encountered in connection with Montero’s activities; and o ther 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.