Mundoro Announces Non-Brokered Private Placement
Not for Distribution to a United States Newswire or for Dissemination in the United States
MUNDORO ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
December 4, 2019, Vancouver, BC - Mundoro Capital Inc. (TSXV: MUN, www.mundoro.com)
("Mundoro" or the "Company"), intends to undertake a private placement to raise gross proceeds of
up to $1,000,000 by the issuance of up to 7,407,407 units (“Units”) at $0.135 per Unit (“Offering”).
Each Unit comprises of one common share of the Company and one -half of one share purchase
warrant. Each whole share purchase warrant (“Warrant”) is exercisable into one common share at
a price of $0.20 per share for a period of 2 years following the closing of the offering.
The Offering will be conducted on a non- brokered basis to institutional and accredited investors
pursuant to prospectus exemptions available under applicable securities laws and is subject to the
approval of the Exchange. A four-month hold period will apply to all securities issued as part of the
Offering. The Company intends to close the Offering on or about January 8, 2020. There can be no
assurance that the Offering will be completed as proposed or at all, and it is subject to all applicable
regulatory approvals.
The Company intends to use the net proceeds of the Offering for the exploration of its non-partnered
properties in Serbia and Bulgaria, its non- partnered generative programs for new areas of
exploration as well as general corporate purposes.
JOGMEC-Mundoro Project in Serbia
In May 2019, the Company announced it had been notified by Japan Oil, Gas and Metals National
Corporation (“JOGMEC”), on the Borsko- Jezero (“Borkso”) license of its decision to sole-fund the
Stage Two Earn- In on the Borsko license under the Earn- In Agreement between Mundoro and
JOGMEC (press release on: www.mundoro.com). Mundoro has been re -appointed as the Operator
for the JOGMEC -Mundoro Project and will receive an operator fee for operating the program. The
Year 1 exploration program for the Stage Two Earn -In at Borsko , which is sole -funded by JOGMEC,
commenced in May 2019 has been focused on completing a gravity survey over the remainder of the
Borsko license and drill testing geophysical targets. Drilling is expected to be completed in Q4-2019
with results expected in Q1-2020.
Freeport-Mundoro Projects in Serbia
The Freeport-Mundoro Projects are currently in the Second Year of Phase 1 of the earn -in. The First
Year under Phase I commenced in October 2018 and included a drill program of 4,778 m of diamond
drilling in seven drill holes, which tested f our target areas. Drilling commenced in Q4 -2019 with
results expected in Q1-2020.
Vale-Mundoro Projects in Serbia
In October 2019, Mundoro announced it had entered into an earn- in agreement with Vale Canada
Limited in which Mundoro had granted to Vale an option to earn-in to four of Mundoro’s exploration
licenses: Sumrakovac, Osnic, Dubrava and Padina (the “Vale -Mundoro Projects”) located within the
TMC in Serbia (press release on: www.mundoro.com).
JOGMEC Generative Alliance
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In March 2019 Mundoro entered into a Generative Program Agreement (the “Generative Alliance”)
in the Republic of Bulgaria with JOGMEC. The purpose of this Generative Alliance is to establish a
generative program between Mundoro and JOGMEC, whereby Mundoro will carry out mineral
exploration activities in Bulgaria under the direction of a joint Technical Committee with the view to
identifying areas of interests that merit additional exploration and/or developme nt work. Upon
JOGMEC determining that one or more properties merit additional exploration and/or development
work, JOGMEC has the right to establish a joint venture on that property with Mundoro. JOGMEC is
sole funding the Generative Alliance.
Mundoro Generative Programs and Outlook for Projects Available for Option or Joint Venture
The Company has an ongoing target generation program where we evaluate both existing and new
target areas. Several target areas in Serbia are currently under review. The Company has made a
number of applications in 2019 for further exploration areas. Mundoro continues to have discussions
with interested third parties seeking options on our available projects, confirming the growing
interest in exploring in Timok, Serbia as well as in Bulgaria.
About Mundoro Capital Inc.
Mundoro is a Canadian mineral exploration and development public company focused on building
value for its shareholders through directly investing in mineral projects that have the ability to
generate future returns for shareholders. The Company holds a diverse portfolio of projects in Serbia
and Bulgaria as well as an investment in a producing gold mine in Bulgaria. There are eight licenses
in Serbia, of which one is optioned to JOGMEC, indirect interests in two licenses are optioned to
Freeport-McMoRan Ex ploration Corporation, four licenses are optioned to Vale and one license,
Zeleznik, is available for third parties to option. In Bulgaria, Mundoro has formed a Generative
Alliance with JOGMEC. Mundoro’s common shares trade on the TSX Venture Exchange unde r the
symbol “MUN”.
For further information please contact:
Teo Dechev, CEO, President and Director of Mundoro Capital Inc. at +1-604-669-8055
Caution Concerning Forward-Looking Statements
This News Release contains forward- looking information and state ments (“forward- looking
statements”) under applicable securities laws. All statements, other than statements of historical fact,
included or incorporated by reference in this News Release are forward- looking statements,
including, without limitation, the c ompletion of the private placement, completion of exploration
work on projects and licenses and results of that exploration work, the prospect of one or more
additional joint ventures and other statements regarding activities, events or developments that the
Company expects or anticipates may occur in the future. These forward -looking statements can be
identified by the use of forward -looking words such as “will”, “expect”, “intend”, “plan”, “estimate”,
“anticipate”, “believe”, “promising”, “encouraging” or “continue” or similar words or the negative
thereof. The material assumptions that were applied in making the forward -looking statements in
this News Release include expectations as to the Company’s future strategy and business plan and
execution of the C ompany’s existing plans. There can be no assurance that the plans, intentions or
expectations upon which these forward-looking statements are based will occur. We caution readers
of this News Release not to place undue reliance on forward -looking statements contained in this
News Release, which are not a guarantee of performance and are subject to a number of uncertainties
and other factors that could cause actual results to differ materially from those expressed or implied
by such forward-looking statements. These factors include general economic and market conditions,
changes in law, regulatory processes, the status of Mundoro’s assets and financial condition, actions
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of competitors and the ability to implement business strategies and pursue business oppor tunities.
The forward- looking statements contained in this News Release are expressly qualified in their
entirety by this cautionary statement. The forward-looking statements included in this News Release
are made as of the date of this News Release and Mu ndoro undertakes no obligation to publicly
update such forward-looking statements to reflect new information, subsequent events or otherwise,
except as required by law.
Shareholders are cautioned that all forward- looking statements involve risks and unce rtainties and
for a more detailed discussion of such risks and other factors that could cause actual results to differ
materially from those expressed or implied by such forward- looking statements, refer to the
Company’s filings with the Canadian securities regulators available on www.sedar.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.
These securities have not been and will not be registered under the United States Securities Act of
1933, as amended, (the “U.S. Securities Act”) or any state securities laws and may not be offered or
sold within the U nited States unless registered under the U.S. Securities Act and applicable state
securities laws or an exemption from registration is available. This announcement does not
constitute an offer to sell or a solicitation of an offer to buy any of the securit ies in this private
placement within the United States or to, or for the account or benefit of, U.S. Persons (as defined
under Regulation S under the U.S. Securities Act).