Received by email:
File: IMT.NR Aug.9.18 -Arranging $200,000 in Financing & Shares forDebt.docx
#600 -625 Howe Street Website: www.MontoroResources.com
Vancouver, B.C. V6C 2T6 E-Mail: gmusil@montororesources.com
Ph.#604-683-6648; Fax #604-683-1350
---> TSX.V: IMT
Frankfurt: O4T1
OTC: IMTFF
MONTORO ARRANGES PRIVATE PLACEMENT FINANCING & SHARES FOR DEBT
August 9, 2018 - International Montoro Resources Inc. (TSX-V: IMT) (the "Company").
Financing:
The Company intends to raise gross proceeds of up to $200,000 by way of a non-brokered private placement (the "Offerin
--->g) through the sale of up to 4,000,000 units (the "Units") at a price of $0.05 per Unit. Each Unit will consist of one
---> common share of the Company and one transferable share purchase warrant (a "Warrant"). Each whole warrant will entit
--->le the holder thereof to purchase one additional share of the Company at a price of $0.06 in the first year from closi
--->ng and $0.08 in the second year.
In addition to relying upon other available prospectus exemptions to effect the private placement, a portion of the pr
--->ivate placement is being completed in accordance with the exemption set out in BC Instrument 45-536 (Exemption from pr
--->ospectus requirement for certain distributions through an investment dealer), (the "Investment Dealer Exemption"). Th
--->e Company also confirms there is no material fact or material change related to the Company which has not been general
--->ly disclosed.
The Company may pay commissions of 8% to eligible parties in connection with this financing, payable in cash and/or in
---> warrants. The Common Shares and Warrants are subject to a statutory hold period and the financing is subject to Exch
--->ange acceptance.
The Company intends to use the net proceeds from the private placement for continued exploration on the Serpent River,
---> Ontario property in particular the Pecors Ni-Cu-PGE discovery, and the Duhamel, Quebec (Ni-Co-Cu) property -($60,000)
---> and general working capital ($140,000). The working capital use of proceeds comprises the following (maximum/minimum
---> for the next six months of estimated operating expenditures): Consulting fees $3,000/$1,500; Legal and audit $15,000/
--->$7,500; Rent, Office & Miscellaneous $18,000/$10,000; Regulatory Fees $5,000/$2,500; Salaries & Admin. $20,000/$10,000
--->; Transfer Agent Fees $6,000/$4,000; Travel & Promotion $7,000/$3,500. Additional funds will be allocated to payment o
--->f current liabilities, loans & loan interest (approx. $36,000), unallocated $30,000.
Shares for Debt:
The Company has also arranged to complete a Shares for Debt for the balance of a 2014 loan and interest in the amount
--->of $50,000. The Company will issue 1 million shares at a price of $0.05 per share to settle this debt. The Shares fo
--->r Debt is also subject to a statutory hold period and is subject to Exchange acceptance.
About International Montoro Resources Inc.
Montoro is focused on advancing its 100%-owned Serpent River - Elliot Lake, Northern Ontario, Pecors magnetic anomaly
--->- a potential Ni-Cu-PGE discovery. The southwestern portion of the property has located Uranium/REE mineralization fro
--->m previous drilling in the general area where Rio Algom discovered uranium. The property comprises 10 mineral claims (
--->115 units), or approximately 1,840 ha
In February 2018 Montoro received approval for the acquisition of the Duhamel, Quebec property. The Ni-Cu-Co prospect
---> consisted of nine (9) mineral claims comprising 500 ha. Additional staking and compiling of data has been underway s
--->ince February, and an updated report of these findings is forthcoming.
In addition the Company owns jointly with Belmont Resources Inc. (50/50) its Crackingstone (982 ha, 2,427 acres) and O
--->rbit (11,109 ha, 27,450 acres) Uranium properties in the Uranium City District, Northern Saskatchewan, and is seeking
--->a joint venture partner to continue development of this advanced property.
ON BEHALF OF THE BOARD
"Gary Musil"
Gary Musil,
President/CEO and Director
Disclaimer for Forward-Looking Information:
Certain statements in this release are forward-looking statements which reflect the expectations of management. Forwar
--->d-looking statements consist of statements that are not purely historical, including any statements regarding beliefs,
---> plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that
--->may cause actual results, performance or developments to differ materially from those contained in the statements. No
---> assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do
---> occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current
---> views and are based on certain expectations, estimates and assumptions which may prove to be incorrect.
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.
File: IMT.NR Aug.9.18 -Arranging $200,000 in Financing & Shares forDebt.pdf
#600 -625 Howe Street Website: www.MontoroResources.com
Vancouver, B.C. V6C 2T6 E-Mail: gmusil@montororesources.com
Ph.#604-683-6648; Fax #604-683-1350 TSX.V: IMT
Frankfurt: O4T1
OTC: IMTFF
MONTORO ARRANGES PRIVATE PLACEMENT FINANCING & SHARES FOR DEBT
August 9, 2018 - International Montoro Resources Inc. (TSX-V: IMT) (the "Company").
Financing:
The Company intends to raise gross proceeds of up to $200,000 by way of a non-brokered private placement (the
"Offering) through the sale of up to 4,000,000 units (the "Units") at a price of $0.05 per Unit. Each Unit will consis
--->t
of one common share of the Company and one transferable share purchase warrant (a "Warrant"). Each whole
warrant will entitle the holder thereof to purchase one additional share of the Company at a price of $0.06 in the
first year from closing and $0.08 in the second year.
In addition to relying upon other available prospectus exemptions to effect the private placement, a portion of the
private placement is being completed in accordance with the exemption set out in BC Instrument 45-536
(Exemption from prospectus requirement for certain distributions through an investment dealer ), (the "Investment
Dealer Exemption"). The Company also confirms there is no mat erial fact or material change related to the
Company which has not been generally disclosed.
The Company may pay commissions of 8% to eligible parties in connection with this financing, payable in cash
and/or in warrants. The Common Shares and Warrants are subject to a statutory hold period and the financing is
subject to Exchange acceptance.
The Company intends to use the net proceeds from the private placement for continued exploration on the
Serpent River, Ontario property in particular the Pecors Ni-Cu-PGE discovery, and the Duhamel, Quebec (Ni-Co-Cu)
property -($60,000) and general working capital ($140,000). The working capital use of proceeds comprises the
following (maximum/minimum for the next six months of estimated operating expenditures): Consulting fees
$3,000/$1,500; Legal and audit $15,000/$7,500; Rent, Office & Miscellaneous $18,000/$10,000; Regulatory Fees
$5,000/$2,500; Salaries & Admin. $20,000/$10,000; Transfer Agent Fees $6,000/$4,000; Travel & Promotion
$7,000/$3,500. Additional funds will be allocated to payment of current liabilities, loans & loan interest (approx.
$36,000), unallocated $30,000.
Shares for Debt:
The Company has also arranged to complete a Shares for Debt for the balance of a 2014 loan and interest in the
amount of $50,000. The Company will issue 1 million shares at a price of $0.05 per share to settle this debt. The
Shares for Debt is also subject to a statutory hold period and is subject to Exchange acceptance.
About International Montoro Resources Inc.
Montoro is focused on advancing its 100%-owned Serpent River - Elliot Lake, Northern Ontario, Pecors magnetic anomaly
--->- a
potential Ni-Cu-PGE discovery. The southwestern portion of the property has located Uranium/REE mineralization from
previous drilling in the general area where Rio Algom discovered uranium. The property comprises 10 mineral claims (11
--->5
units), or approximately 1,840 ha
In February 2018 Montoro received approval for the acquisition of the Duhamel, Quebec property. The Ni-Cu-Co prospect
consisted of nine (9) mineral claims comprising 500 ha. Additional staking and compiling of data has been underway sin
--->ce
February, and an updated report of these findings is forthcoming.
In addition the Company owns jointly with Belmont Resources Inc. (50/50) its Crackingstone (982 ha, 2,427 acres) and O
--->rbit
(11,109 ha, 27,450 acres) Uranium properties in the Uranium City District, Northern Saskatchewan, and is seeking a joi
--->nt
venture partner to continue development of this advanced property.
ON BEHALF OF THE BOARD
"Gary Musil"
Gary Musil,
President/CEO and Director
Disclaimer for Forward-Looking Information:
Certain statements in this release are forward-looking statements which reflect the expectations of management. Forwar
--->d-looking statements
consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations
--->or intentions regarding the
future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developme
--->nts to differ materially
from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-lo
--->oking statements will
occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect
--->management's current
views and are based on certain expectations, estimates and assumptions which may prove to be incorrect.
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 .
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