Monterey Minerals Closes its Previously Announced Non-Brokered Private Placement
Monterey Minerals Closes its Previously Announced
Non-Brokered Private Placement
Not For Dissemination in the United States Of America
TORONTO, ON – September 5, 2019 - Monterey Minerals Inc. (the “Company” or “Monterey”)
(CSE: MREY , FSE: 2DK ) announces the final closing of its previously announced non -brokered
private placement of up to $600,000, consisting of $500,000 o f common share units and
$100,000 of flow-through share units (the “Financing”).
The final closing consisted $92,300 common share units (“Unit”) priced at $0.05 per unit, as the
balance of the Financing closed on August 21, 2019 . Each Unit consists of one common share
and one -quarter of a common share purchase warrant. Each full common share purchase
warrant entitles the holder to purchase one common share at a price of $0.10 until March 5 ,
2021. The Company paid cash finder’s fees equal to 7% of the gross proceeds totalling $1,561 in
the second closing.
The net proceeds will be used for funding an exploration program at the Pilbara Gold Properties
in Western Australia and base line exploration at Cobalt Mountain in British Columbia as well as
general working capital. This financing is subject to regulatory approval and all securities issued
are subject to a four-month hold period under applicable Canadian securities laws.
The Company also announces that it granted 750,000 options to Directors, Officers and
Consultants, which are exercisable at $0.10 per common share for five years from the date of
grant.
About Monterey Minerals Inc.
Monterey Minerals is a mineral exploration company focused on its prospective 992 sq. km.
Pilbara Basin tenement portfolio on the eastern flank of the Pilbara Basin in Western Australia,
including a property that abuts Pacton Gold’s tenement where gold-bearing conglomerates were
identified. The Company also owns the Cobalt Mountain Project (the “Project”), near Smithers,
BC. The Company’s NI 43 -101, on SEDAR, notes historic sampling at the Project that returned
mineralized showings of gold, silver, copper, zinc and cobalt.
For more information, contact investor relations at [email protected]
On Behalf of the Board of Directors,
James Macintosh, President and CEO
Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or
accepted responsibility for the adequacy or accuracy of this press release
This press release may include forward- looking information within the meaning of Canadian securities
legislation, concerning the business of the Company. Forward-looking information is based on certain key
expectations and assumptions made by the management of the Company. Although the Company believes
that the expectations and assumptions on which such forward- looking information is based on are
reasonable, undue reliance should not be placed on the forward-looking information because the Company
can give no assurance that they will prove to be correct. Forward- looking statements contained in this
press release are made as of the date of this press release. The Company disclaims any intent or obligation
to update publicly any forward-looking information, whether as a result of new information, future events
or results or otherwise, other than as required by applicable securities laws.