Vancouver, BC / TheNewswire / January 13, 2017 - Montan Mining Corp. (TSXv: MNY | FSE: S5GM | SSE: MNYC) ("Montan" or the "Company") is pleased to announce that it has completed the third and final tranche of its previously announced $1,000,000 non-brokered private placement financing (the "Financing"). The third tranche of the Financing consisted of 3,100,000 units at $0.05 per unit for total gross proceeds of $155,000. Each unit consists of one common share and one transferable share purchase warrant, with each warrant exercisable into one additional common share at $0.10 per share for five (5) years after the closing date. In total, the Financing consisted of 20,611,387 units for aggregate gross proceeds to the Company of $ 1,030,569.
In connection with the Financing, the Company paid finders fees in the aggregate amount of $5,250 in cash. All securities issued in connection with the Financing are subject to a restricted period that expires four months following the date of issuance. Closing of the financing is subject to receipt of final applicable regulatory and TSX Venture Exchange approval.
Upon closing of the Financing, the Company has 64,119,012 common shares outstanding.
Appointment of CFO - Anthony Balic
Furthermore, Montan is pleased to announce that it has appointed Mr. Anthony Balic as CFO of the Company. Mr. Balic is a Chartered Professional Accountant who has worked with Canadian and US publicly listed resource companies for the past 10 years. He is currently the CFO of Goldgroup Mining Inc. and was part of the finance team which brought their Mexican gold mine into commercial production. Prior to this position, he was a Senior Manager at Deloitte LLP in Vancouver, where he specialized in assurance and advisory for publicly traded mining companies.
About Montan Mining Corp.
Montan is backed by an experienced management team with diverse technical, market, and finance expertise and is supported by committed and sophisticated investors focused on building value for the long term. The Company is engaged in closing the acquisition of an operation ready gold mine and gold processing plant in the southern Peruvian mining district of Caraveli under a Share Exchange Agreement with Chazel Capital Inc. for the purchase of its 100% owned Peruvian subsidiary Cerro Dorado S.A.C.
