Mr. William Pincus reports
MIRAMONT CLOSES NON-BROKERED PRIVATE PLACEMENT
Miramont Resources Corp.'s non-brokered private placement previously announced on Jan. 17, 2019, was oversubscribed and has now closed. Under the private placement, the company issued an aggregate of 4,716,498 units at a price of 35 cents per unit for gross proceeds of $1,650,774. Each unit comprised one common share in the capital of the company and one transferable common share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of 50 cents per common share until Jan. 31, 2021.
In connection with the private placement, the company paid a total of $28,054 in cash and issued a total of 80,156 warrants to eligible finders who introduced subscribers to the private placement.
All securities issued under the private placement, including securities issuable on exercise thereof, are subject to a hold period expiring June 1, 2019.
The company intends to use the net proceeds from the private placement for its planned drilling and other activities at Cerro Hermoso, advancing the Lukkacha project, and for general working capital purposes.
About Miramont Resources Corp.
Miramont is a Canadian-based exploration company with a focus on acquiring and developing mineral prospects within world-class belts of South America. Miramont's key assets are located in southern Peru. The Cerro Hermoso property hosts a 1.4-kilometre-diameter breccia pipe targeting gold-polymetallic mineralization while the Lukkacha property is targeting porphyry copper mineralization.
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