Business
Montan Mining and Lions Bay Announce Shares for Debt Transaction
Vancouver, British Columbia--(Newsfile Corp. - May 9, 2018) - Montan Mining Corp. (TSXV: MNY) ...
About this update from Lions Bay Capital, Inc.
[{"type":"text","content":"Montan Mining and Lions Bay Announce Shares for Debt TransactionVancouver, British Columbia--(Newsfile Corp. - May 9, 2018) - Montan Mining Corp. (TSXV: MNY) (FSE: S5GM) (SSE: MNYC) (\"Montan\" or the \"Company\") and Lions Bay Capital Inc. (TSXV: LBI) (\"Lions Bay\") are pleased to announce that the Company and Lions Bay have entered into an agreement to settle $500,000 of indebtedness of the Company to Lions Bay (the \"Shares for Debt Transaction\") through conversion of such debt into common shares of the Company (the \"Common Shares\"). Pursuant to the Shares for Debt Transaction, the Company will issue 10,000,000 Common Shares, at a price of $0.05 per Common Share. On completion of the Shares for Debt Transactions, the Company will have 38,105,448 Common Shares issued and outstanding.The Shares for Debt Transaction will result in Lions Bay becoming a control person of Montan, for which Montan is seeking shareholder approval at its annual general and special meeting to be held on June 7, 2018. The Shares for Debt Transaction is conditional upon obtaining Montan shareholder and TSX Venture Exchange approval. Following receipt of such approvals, the Shares for Debt Transaction is expected to close on or about June 8, 2018. 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 DirectorTel: +1.604.671.1353Email: [email protected] behalf of the Board of Lions Bay.John ByrneDirectorTel: +61 3 9236 2800Email: [email protected] more information, please visit the corporate website at http://www.montanmining.ca or h...