18:22:42 EDT Thu 06 Aug 2020
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International Montoro Resources Inc (2)
Symbol IMT
Shares Issued 47,542,105
Close 2020-07-08 C$ 0.065
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Int'l Montoro appoints Rayani as president, CEO

2020-07-09 07:09 ET - News Release

Mr. Gary Musil reports

MONTORO APPOINTS KARIM RAYANI AS PRESIDENT & CEO

International Montoro Resources Inc. has appointed Karim Rayani as its new president, chief executive officer and director.

Mr. Rayani for the past 15 years has been focused on financing both domestic and international mineral exploration and development. Mr. Rayani is currently chief executive officer and director of Falcon Gold Corp.; chair of R7 Capital Ventures Ltd.; and chairman, chief executive officer and director of District 1 Exploration Corp. Prior to these postings he worked independently as a management consultant and financier to companies in the junior mining, biomedical and technology sectors raising over $50-million in the last few years, for both public and private companies. Mr. Rayani brings an extensive network of contacts throughout North America and Europe with a focus on institutional accounts. This appointment is subject to regulatory approval.

Montoro would like to thank Gary Musil for his hard work and dedication for 20 years of service to the company. Mr. Musil has compiled and developed an impressive number of quality assets in the battery metal field (nickel, copper, cobalt and REE (rare earth element) properties), including the recent acquisition in the Red Lake gold camp. Mr. Musil will remain as a director and chairman of the board of directors.

"I am very pleased to have someone as seasoned as Karim to lead the company. He has a proven track record and finance pedigree. We look forward to working with him to move the company forward," stated Gary Musil, chairman and director.

Stock option granting

The company has granted officers, directors and consultants a total of 1.8 million incentive stock options for the purchase of up to 1.8 million common shares of the company, pursuant to the company's stock option plan. Each option is exercisable for a period of three years at a price of five cents per common share.

About International Montoro Resources Inc.

International Montoro, listed on the TSX Venture Exchange for over 25 years, is a Canada-based emerging resource company.

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