Junior Mining Network
  • Dashboard
  • Newsroom
  • Featured Miners
  • Investor Clips
  • Heat Map
  • Market Data
  • Mining Topics
  • Watch List
Junior Mining Network
Golden Minerals

Montan Mining Shareholders Approve Lions Bay Shares For Debt Agreement

  • AGM Results

TSX VENTURE: FMN
www.fidelityminerals.com

Mr. Ian Graham reports:

Vancouver, BC / TheNewswire / June 8th, 2018 - Montan Mining Corp. (TSX-V: MNY | FSE: S5GM | SSE: MNYC) ("Montan" or the "Company") is pleased to announce that it has successfully completed its June 7th annual and special general meeting of shareholders, and that all Resolutions proposed for the meeting were passed by participating shareholders.

In particular, the Resolution to approve Lions Bay Capital Inc. as a Control Person of the Company was passed by a vote of over 99% of voting shareholders. The Company and Lions Bay will now proceed to settle $1.03 million of Company indebtedness (the "Shares for Debt Transaction") through issuance to Lions Bay of 20,649,774 Company common shares at a deemed price of $0.05 per share. On completion of the Shares for Debt Transaction, the Company will have 48,755,222 Common Shares issued and outstanding.

The Shares for Debt Transaction will result in Lions Bay becoming a control person of Montan. The Shares for Debt Transaction is conditional upon obtaining final TSX Venture Exchange approval.

The Company is also now working to close a previously announced financing that is expected to close immediately prior to closing of the Shares for Debt Transaction, and on completion of the Shares for Debt Transaction and the financing the Company will have approximately 60,755,222 Common Shares issued and outstanding. The financing consists of 12,000,000 units at a price of $0.05 per unit for total gross proceeds of up to $600,000. Each unit consists of one common share and a whole warrant, with each whole warrant exercisable into one additional common share at $0.06 per share for one (1) year after the closing date.

Montan Mining's objective is to reduce corporate debt and recapitalise the company, as an important step in enabling the company to pursue and execute on value accretive activities.

About Lions Bay Capital Inc.

Lions Bay Capital Inc. is a TSXV-listed Investment Issuer that is focussed on high return investment opportunities, principally in the mining, clean energy and clean technology sectors, where it will provide public and private companies early-stage financial support by way of equity or debt. Lions Bay is not an exploration or research company, and focusses on companies on a near term cash flow and growth track.

About Montan Mining Corp.

Montan Mining Corp. is an emerging gold producer focusing on monetizing mining assets in Peru. The company 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 long term value, now anchored by Lions Bay Capital Inc.

On behalf of the Board of Montan.
Ian Graham
CEO and Director
Tel: +1.604.671.1353
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
On behalf of the Board of Lions Bay.
John Byrne
Director
Tel: +61 3 9236 2800
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

For more information, please visit the corporate website at http://www.montanmining.ca or contact:

Investor Contact:

Luis F. Zapata

Executive Chairman

Tel: +1.604.358.1382

Tel: +51.999.968.827 (Peru)

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

NEITHER THE 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 NEWS RELEASE.

Cautionary Statement Regarding Forward-Looking Information

This press release contains "forward-looking statements" or "forward-looking information" (collectively referred to herein as "forward-looking statements") within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "will", "plan", "intends", "may", "will", "could", "expects", "anticipates" and similar expressions. Further disclosure of the risks and uncertainties facing Montan and other forward-looking statements are discussed in Montan's Management's Discussion and Analysis which are available under the Company's profile on www.sedar.com.

In particular, this press release contains forward-looking statements pertaining to completion of the restructuring of Montan, settling certain debts of Montan, the creation of Lions Bay as a control person of Montan and obtaining shareholder approval thereof, approval of the TSX Venture Exchange, the raising and use of proceeds of a financing, expectations regarding Montan's financing requirements and future financings of Montan. Factors which could cause actual results to differ materially from include, but are not limited to, inability to raise funding, not reaching final agreement with contracting parties, inability to obtain regulatory approvals, commodity prices, fluctuations in revenues and expenses of the Company, need for additional funding, availability of such additional funding and that funding will be on acceptable terms, retention of key employees, economic conditions, currency fluctuations, competition and regulations, legal proceedings and risks related to operations in foreign countries.

The forward-looking statements in this press release are made as of the date they are given and, except as required by applicable securities laws, the Company disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. 

MORE MINING NEWS

Hudbay Minerals Announces Fourth Quarter and Full Year 2018 Results and Provides 2019 Guidance
Sandstorm Gold Royalties Announces Record 2018 Annual Results
Osisko Mining Releases Mineral Resource Estimate for Garrison Gold Deposit
OceanaGold Reports Full Year 2018 Financials
Nighthawk makes additional high-grade discoveries within its 100% owned Indin Lake Gold Property
First Mining Gold Reports Potential for Significant Increase in Recoveries at Springpole Gold Project
Newmont Mining Announces Canadian Competition Bureau Clearance for Combination with Goldcorp
Barrick Gold Confirms Continuing Commitment to PNG Government and Porgera Community
Pretivm Reports 2018 Results and 2019 Outlook
Agnico Eagle Mines Reports Fourth Quarter and Full Year 2018 Results - Three-Year Guidance Outlines Growing Production with Stable to Declining Unit Costs; Meliadine Mill Commissioning Underway with Project Ahead of Schedule and Under Budget
First Quantum Minerals Reports Fourth Quarter and Full Year 2018 Results
Lundin Mining Fourth Quarter and Full Year Results

GET DAILY NEWS FLOW

Sign Up To Receive All Morning
News To Your Email Inbox

Fidelity Minerals

ADD TO WATCH LIST
Last Trade: C$0.06
Daily Change: -0.005 -7.69
Daily Volume: 130,000
Market Cap: C$4.090M
February 11, 2019
Fidelity Minerals Announces Closing of Las Huaquillas Acquisition
February 06, 2019
Fidelity Minerals Corp. closes first Tranche of Private Placement
January 23, 2019
Montan Mining Name Change to Fidelity Minerals Corp.
January 18, 2019
TSX-V Approves Montan Mining Corp.'s Acquisition of Las Huaquillas Project Interest from Lida Resources
January 18, 2019
Montan Mining Corp. to be Rebranded as Fidelity Minerals Corp.
December 18, 2018
Montan Mining Provides Corporate Update
December 06, 2018
Montan Mining agrees to acquire the Greater Las Huaquillas Project in Northern Peru
October 18, 2018
Montan Mining Closes First Tranche Of Non-Brokered Placement
September 25, 2018
Montan Mining Announces $400,000 Unit Financing
July 06, 2018
Montan Mining Announces Completion of their Previously Announced Shares For Debt Transaction and Closing of The Second Tranche of the $600,000 Non-Brokered Private Placement And Increase of Total to $760,000
June 22, 2018
Montan Mining Closes First Tranche Of Non-Brokered Placement For $306,000
June 14, 2018
Montan Mining Appoints Bahay Ozcakmak and Anthony Balic to the Board
LOAD MORE NEWS
LOAD MORE NEWS

Miramont Resources

Miramont Resources

Miramont Resources is a Canadian-based exploration company with two highly prospective projects in southern Peru. The Cerro Hermoso property hosts a 1.4 km diameter breccia pipe targeting Au, Ag and Cu, Pb and Zn, while the Lukkacha property is host to a large alteration system typical of major porphyry copper deposits. Miramont plans to aggressively drill high-priority targets in 2019. The Company is led by a proven management team with a long history of exploration success and extensive... VIEW PROFILE

© 2019 Junior Mining Network. All Rights Reserved.

  • Privacy Policy
  • Disclaimer
  • RSS
  • Contact