VANCOUVER, Oct. 20 /CNW/ - Moncoa Corporation (TSX-V: MON) announces it has raised $150,000 for working capital and corporate purposes to assist in completing its acquisition of an interest in the Selinsing Gold Mine project in Pahang State, Malaysia, through an RTO previously announced. Details are available in the Company's Information Circular for its Annual and Special Meeting to be held Wednesday, October 25, 2006, which Circular has been filed on SEDAR and can be accessed at www.sedar.com. On completion of the private placement, the Company will issue 857,143 pre-consolidated shares at $0.175 per share for net proceeds of $135,000 after payment of a commission. As indicated in the Company's news release of September 12, 2006, the October 25, 2006 Meeting will seek shareholder approvals to proceed with the acquisition, to consolidate the share capital on a two for one basis, to change the name of the Company to "Monument Mining Limited", and to elect a Board of experienced mining industry directors, among other resolutions connected with the RTO. The Company also seeks to raise a minimum of $3,125,000 and a maximum of $5,500,000 gross funds to complete the acquisition following the approvals anticipated at the Meeting. Completion of the various transactions are subject to a number of conditions, including Exchange acceptance and disinterested shareholder approval. The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release. %SEDAR: 00008911E