09:39:27 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Montan Mining Corp
Symbol MNY
Shares Issued 22,601,037
Close 2015-08-31 C$ 0.105
Market Cap C$ 2,373,109
Recent Sedar Documents

Montan closes $216,860 first tranche of note placement

2015-08-31 19:46 ET - News Release

Mr. Ian Graham reports

MONTAN MINING CORP. CLOSES FIRST TRANCHE OF CONVERTIBLE NOTE PLACEMENT

Montan Mining Corp. has closed the first tranche of its convertible note placement announced on Aug. 25, 2015. The company issued convertible notes in the aggregate amount of $216,860.38. Each note accrues simple interest at 14 per cent per annum, which has been prepaid until maturity, being one year from issuance. The principal amount of each note is convertible at any time at a price of 12.5 cents into units of the company comprising one common share and one common share purchase warrant. Each whole warrant may be exercised at an exercise price of 17.5 cents into one additional common share of the company for a period of two years from closing of the offering. The company expects to close additional tranches of the offering in coming weeks.

The proceeds of the offering will be used to advance the company's operations at the Mollehuaca gold processing plant in anticipation of its acquisition, as announced by the company on June 11, 2015, and for working capital.

The company did not pay any finders' fees in connection with the offering.

The securities issued in connection with the closing of the offering are subject to a restricted period that expires on Dec. 29, 2015.

© 2024 Canjex Publishing Ltd. All rights reserved.