Business
Montan Mining Corporate Update
(via TheNewswire) - Arranges extension to December 30 th for closing of Kairos S....
About this update from Fidelity Minerals Corp.
[{"type":"text","content":"Montan Mining Corporate Update(via TheNewswire)\n\n \n\n\n- Arranges extension to December 30th for closing of Kairos S.A.C acquisition\n\n\n\n- Company currently in negotiations to add precious metals mining assets\n\n\n\n- Company enters into promissory notes for Principal of $205,000 with participation from Premier Silver Corp., Water Street Assets Inc. and Insiders\n\n\n\n\n \n\n\n\n \nVancouver, BC / TheNewswire / September 18th, 2017 - Montan Mining Corp. (TSXv: MNY | FSE: S5GM | SSE: MNYC) (\"Montan\" or the \"Company\") is pleased to announce that the Company has arranged an extension of its Term Sheet with Pacific Alliance Capital Group Ltd. (\"Pacific Alliance\") for the purchase, by Montan, of the Peruvian companies Kairos Capital Peru S.A.C (\"Kairos\") and M&S Transportes y Servicios Generales S.R.L (\"Mirador\") from Pacific Alliance (please refer to the News Release of February 16th, 2017). The extension is granted until December 30th, 2017 to facilitate completion of the transaction closing requirements. The key assets (\"Pacific Alliance Assets\") held by the companies under acquisition include the 100% owned 125 tonnes per day (\"TPD\") Mirador Processing Plant located in Chimbote, Peru and six (6) 100% owned mineral concessions.\n\n \n \nCorporate Strategy Update: Over the last two quarters the Company has been in negotiatons with different groups regarding potential transactions which could secure a traditional precious metals mining asset for the company in Peru. The company believes that general investor interest for a dedicated precious metals and base metals milling operations is limited owing to the inherent risk arising from the reliance on third party supply of mineral feed. The absence of a flagship Company-owned or propriertary mineral supply has caused previously arranged or discussed financing alternatives to be very punitive in terms of cost of capital and terms. The company will announce further updates on its new, expanded corporate strategy as transaction details are advanced and can be made available to the public. \n\n \n \nPromissory Note Financing: The Company is pleased to announce that it has entered into promissory notes (\"Notes\") for principal of $205,000. The proceeds of the Notes will be used for general working capital purposes. \n\n \n \nThe Notes are due 12 months from the da...