Montero Announces Closing Upsized $2.5 Million Non-Brokered Private Placement
On December 14, 2020 Montero Mining and Exploration Ltd. (“Montero” or the “Company”) announced that it had closed its previously announced non-brokered private placement offering (the “Offering”) composed of the sale of 16,666,667 units (“Units”) at a price of CAD$0.15 per Unit, for total gross proceeds of CAD$2,500,000.
Montero intends to use the net proceeds from the Offering for general corporate and working capital purposes, exploration and drilling in Chile.
Montero is a junior exploration company focused on finding, exploring and advancing globally significant gold deposits in Chile. The Company is in the process of relinquishing its portfolio of battery metal projects in Africa to focus on the Isabella gold project in Chile. Montero’s board of directors and management have an impressive track record of successfully discovering and advancing precious metal projects. Montero trades on the TSX Venture Exchange under the symbol MON and post the financing has 38,547,485 shares outstanding.
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