On August 3, 2011 Montero Mining and Exploration Ltd. (“Montero”) closed a private placement of 9,821,333 units from the treasury of Montero at a price of $0.60 per unit for aggregate gross proceeds of $5,892,800. The offering was conducted on a non-brokered basis.

Peterson Law acted for Montero with a team that included David Gardos and Steven Agnew.