Vancouver (pcJ News Briefs) – Montan Mining Corp. (TSX-V: MNY; FSE: S5GM; SSE: MNYC) has completed its previously announced $500,000 non-brokered private placement financing of 9,094,970 units at $0.055 per unit for total gross proceeds of $500,223.
Each unit consists of one common share and a half share purchase warrant, with each warrant exercisable into one additional common share at $0.10 per share for two years after the closing date.
Montan has also entered into agreements to issue 982,364 ordinary common shares to settle certain debts owed to an arms-length and a non arms-length party. The company owes accounts payable to parties amenable to receiving shares for debt of $52,369. In addition, Montan will issue 120,000 bonus common shares related to the loan payable with a private Canadian company entered into on April 5, 2016.
Montan Mining Corp. is an emerging gold producer focusing on monetizing mining assets in Peru.
photo credit: Montan Mining