Business
/R E P E A T -- MONUMENTAL MINERALS CORP. CLOSES STRATEGIC PLACEMENT FINANCING/
/R E P E A T -- MONUMENTAL MINERALS CORP. CLOSES STRATEGIC PLACEMENT FINANCING/ Canada ...
About this update from Monumental Energy Corp.
[{"type":"text","content":"\n \n \n \n /R E P E A T -- MONUMENTAL MINERALS CORP. CLOSES STRATEGIC PLACEMENT FINANCING/\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n March 3, 2023\n \n \n /CNW/ - Monumental Minerals Corp. (\"\n \n Monumental\n \n \" or the \"\n \n Company\n \n \") (TSXV: MNRL) (FSE: BE5) (OTCQB: MNMRF) announces that it has closed a non-brokered private placement (the \"\n \n Private Placement\n \n \") for gross proceeds of\n \n $988,050\n \n , consisting of 5,646,000 units of the Company (\"\n \n Units\n \n \") at a price of\n \n $0.175\n \n per Unit. Each Unit consists of one common share of the Company (\"\n \n Shares\n \n \") and one common share purchase warrant of the Company (\"\n \n Warrants\n \n \"). Each whole Warrant entitles the holder to acquire one Share at a price of\n \n $0.30\n \n per Share for a period of three years following the closing of the Private Placement.\n \n \n \n \n \n \n \n \n \n Dr.\n \n Jamil Sader\n \n , CEO of Monumental comments:\n \n \n \"We are pleased to welcome our new strategic investors. They are highly respected and experienced and we look forward to leveraging their extensive expertise in mining and capital markets.\"\n \n \n Monumental intends to use the proceeds of the Private Placement to conduct work on its projects, as well as for general working capital purposes. The Private Placement is subject to the final acceptance of the TSX Venture Exchange. The Shares issued pursuant to the Private Placement are subject to a statutory hold period of four months and one day from the closing of the Private Placement. No finder's fees are payable in connection with the Private Placement.\n \n \n Pursuant to the Company's option agreement dated\n \n October 5, 2022\n \n with Lithium Chile Inc. (\"\n \n Lithium\n \n Chile\n \n \n \") (TSX-V: LITH) to acquire a 50.01% interest in the Salar de Turi project (see the Company's news release dated\n \n October 6, 2022\n \n ), the Company issued 1,050,000 common shares to Lithium Chile Inc. (the \"\n \n Payment Shares\n \n ...