Mr. Max Sali reports
MONUMENTAL ENERGY CORP. APPOINTS NEW DIRECTOR
Monumental Energy Corp. has appointed Chris Mackay to the company's board of directors.
Change of directors
Monumental Energy announces the resignation of Kris Raffle from the board. The company extends its sincere gratitude to Mr. Raffle for his contributions to the company.
Mr. Mackay is the chief executive officer of Strand Finance. Strand development and finance is a Vancouver-based finance, development and investment company active across North America. Since 1976, Strand has acquired, developed and financed a portfolio of real estate assets valued at over $16-billion, comprising over 47,000 homes.
Strand has been actively involved in many real estate sectors, including the acquisition of development sites, the development of high-rise condominiums, multifamily apartment buildings, single-family communities, office towers and industrial projects, as well as providing financing to developers for residential and commercial developments throughout North America.
Maximilian Sali, CEO, director and founder, comments:
"It's a pleasure to have Chris Mackay join our board. His business acumen is second to none and he has done a tremendous job building his family's real estate business. He significantly adds value and strength to our board, and I look forward to having him assist with corporate decisions. I want to thank Kris Raffle for his time on our board. Kris has been a director since the inception of this company and has always been key in board decisions."
Mr. Mackay comments: "I have known Max for a very long time and, after doing a lot of due diligence and speaking to him about how the company will move forward, I wanted to be involved and join the board. I look forward to helping the company with its oil and gas initiatives in New Zealand."
Stock options
The company also announces that it has granted incentive stock options to certain directors, officers and consultants of the company to purchase up to an aggregate 2.9 million common shares of the company at a price of 10 cents per common share for a period of three years from the date of grant, pursuant to the company's equity incentive plan. The options vest of the date of grant. All of the options (and any shares issuable upon exercise or settlement thereof) will be subject to a four-month-and-one-day hold period from the date of grant pursuant to the policies of the TSX Venture Exchange.
About Monumental Energy Corp.
Monumental Energy is an exploration company focused on the acquisition, exploration and development of properties in the critical and clean energy sectors. The company is building a strategic position in New Zealand's onshore Taranaki basin, targeting near-term oil production and longer-term natural gas development.
The company has a financing agreement with New Zealand Energy Corp. (NZEC), targeting production optimization and workover opportunities across existing fields. The company also holds securities of NZEC and a call option and royalty interest related to the Copper Moki wells.
Monumental additionally maintains exposure to the critical minerals sector through a 2-per-cent net smelter return royalty on Summit Nanotech's interest in the Salar de Turi lithium project in Chile.
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