Monument Announces Closing of First Tranche of Brokered Private Placement, Raising Gross Proceeds of $15 Million

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[{"type":"text","content":"\n\n\n\n\n\nVANCOUVER, Feb. 12, 2013 /CNW/ - Monument Mining Limited (TSX-V: MMY and\n FSE: D7Q1) (\"Monument\" or the \"Company\") is pleased to announce that it has closed the first tranche of its\n previously announced $80,000,000 brokered private placement (the \"Offering\"). Closing of subsequent tranches of the Offering will be subject to\n certain conditions, including the final approval of each tranche by the\n TSX Venture Exchange.\n\n\nIn connection with the closing of the first tranche of the Offering, the\n Company issued 30,000,000 Common Shares at an issue price (\"Issue Price\") of $0.50 per common share (the \"Common Shares\"), for gross proceeds of $15,000,000.\n\n\nThe Offering, as a whole, is for up to 160,000,000 common shares of the\n Company (the \"Common Shares\") at the Issue Price, for aggregate gross proceeds of up to\n $80,000,000. Monument engaged Mackie Research Capital Corporation (\"MRCC\") as lead agent and sole book-runner, and included Salman Partners Inc.\n (\"Salman\") (collectively, the \"Agents\"), to complete the Offering on a best-efforts basis. Pursuant to the\n engagement, the Company granted the Agents an option (the \"Over-Allotment Option\") to increase the size of the Offering by up to an additional 15% in\n the number of Common Shares.\n\n\nIn consideration for their services, the Agents will receive a cash\n commission of 7.0% of the gross proceeds of the Offering, payable upon\n the closing of each tranche. In addition, the Agents will receive\n non-transferable share purchase options (the \"Agents Options\") to purchase that number of Common Shares which is equal to 7.0% of\n the total number of Common Shares sold pursuant to the Offering,\n including any Common Shares sold pursuant to the exercise of the\n Over-Allotment Option, for a period of 24 months after closing at the\n Issue Price. The Agents Options are issuable upon the closing of each\n tranche.\n\n\nIn connection with the closing of the first tranche of the Offering, the\n Company paid MRCC and Salman a total cash commission of $1,050,000, and\n issued MRCC and Salman a total of 2,100,000 Agents Options.\n\n\nThe securities issued pursuant to the first tranche of the Offering are\n subject to a statutory four month hold period expiring on June 13,\n 2013.\n\n\nThe proceeds from the first tranche of the Offering shall...

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