Monarch Mining Corporation Closes Private Placement for C $ 14.4 Million and Alamos Goldfile Early Warning Report, Canadian Business Journal

This news release is not intended to be distributed to or distributed to US news agencies.

Montreal, April 6, 2022 (GLOBE NEWSWIRE) — Monarch Mining Co., Ltd. (“”Monarch” or “Ltd(TSX: GBAR) (OTCQX: GBARF) has announced that it has closed a previously announced private placement with a total income of C $ 14,400,000 (“Recruitment“). The offering was conducted on a “best effort” private placement basis, subject to the terms of the agency agreement signed between the Corporation and the co-lead manager and co-lead managers Stifel GMP and Sprott Capital Partners LP. “”Co-lead agent“), And Desjardins Securities Inc. and Laurentian Bank Securities Inc. (with co-lead agents,”Agent“). The offering involves the agent exercising an over-allotment option with an additional total income of C $ 2,400,000. The offering consisted of the issuance of a corporation of 24,000,000 units (“unit”) At a price of $ 0.60 CAD per unit.

Each unit consists of one common stock of company capital (“Common stock“) And one of our transferable common stock purchase warrants (“warrant“). Each warrant gives its holder the right to acquire one common stock (each, “”Warrant share”) For 60 months from the date of issue, at a price of C $ 0.95 per Warrant share.

The net offering revenue is expected to be used by Kosha for general corporate purposes, including development spending at Kosha’s Beaufor mine and Beacon plants, and working capital purposes.

All securities issued in accordance with this offering are subject to a four-month and one-day time limit ending August 7, 2022, under applicable Canadian securities law. Offerings are subject to final approval from the Toronto Stock Exchange.

Alamos Gold Inc. (“”Alamos”) Agreed to participate in the offering with a subscription of 1,666,667 units for a total consideration of C $ 1,000,000.20. Prior to the end of the offering, Alamos held 8,793,640 shares of common stock and had no warrant to purchase our common stock. This was 10.36% of the outstanding securities at that time. After the end of the offering, Alamos holds 10,460,307 common shares and 1,666,667 warrants on a partially diluted basis with a securities holding ratio of 10.97% as of today, an increase of 0.61%. .. Alamos acquired the unit for investment purposes. Units are evaluated and may be increased or decreased at any time at Alamos’ discretion. A copy of the Alamos Early Warning Report is available on the SEDAR website ( Or mail to SParsons @, 416-368-9932 (ext .5439) or Brookfield Place, 181 Bay Street, Suite 3910, Toronto, Ontario M512T3.

Our insiders, including Alamos, have subscribed to a total of 1,866,667 units under the offering, which is equivalent to 7.78% of the units issued under the offering.

This press release does not constitute an offer to sell or solicit a purchase, and there is no sale of securities in any state where such offer, solicitation or sale is illegal. The securities offered are not registered under the US Securities Act and are not registered. It may not be offered or sold to anyone in the United States or an American who is not registered or exempt. From the registration requirements of US securities laws and applicable state securities laws. “US” and “American” are as defined in Regulation S of the US Securities Act.

About Monarch
Monarch Mining Corporation (TSX: GBAR) (OTCQX: GBARF) is a fully integrated mining company that owns four projects, including Beau for Mine, which has produced over 1 million ounces of gold over the last 30 years. Other assets include properties of Cloiner Gold, Mackenzie Break and Swanson. All of these are near Monarch’s fully owned 750tpd Beacon Mill.Monarch owns 29,504 hectares (295 km)2) 478,982 ounces of measured and displayed gold resources plus 383,393 ounces of estimated resources host the prolific Abitibi mining camp mining assets.

Description of future prospects
All statements except historical facts contained in this press release include the purpose of the offering’s revenue, the receipt of the final approval of the Toronto Stock Exchange in connection with the offering, and, in general, the “Monarch” above. The paragraph “” basically describes our outlook and constitutes “forward-looking information” or “forward-looking statements” within the meaning of applicable securities law, and the time of this press release. .. Forward-looking statements are necessarily considered reasonable by us at the time of such statements, but are inherently significant business, economic and competitive uncertainties and the effects of contingent events. It is based on many estimates and assumptions that receive. These estimates and assumptions may turn out to be incorrect. Many of these uncertainties and contingencies can have direct or indirect implications, and actual results differ significantly from those expressed or implied in forward-looking statements and future events. It is possible and may differ materially from the expected results with such a statement. A description of the assumptions used to create such forward-looking information, and a description of risk factors whose actual results may differ materially from the forward-looking information, are provided in the Monarch disclosure document on the SEDAR website. It is described in.

By its very nature, forward-looking statements include general and specific inherent risks and uncertainties, and estimates, forecasts, forecasts, and other forward-looking statements are not achieved or assumed. There is a risk that it will not reflect future experience. Forward-looking statements are provided with the purpose of providing information on management’s efforts to develop our mining assets, and more generally their expectations and plans for the future. Readers should be careful not to place undue reliance on these forward-looking statements. Many important risk factors and future events can cause actual results to differ materially from expressed beliefs, plans, objectives, expectations, expectations, estimates, assumptions and intents. In the description of such future prospects. All forward-looking statements made in this press release are qualified by these notices and statements made in other filings with Canadian securities regulators. We will update or revise any forward-looking statement or explain any significant differences between subsequent actual events and such forward-looking statements, except as required by applicable law. Deny any intention or obligation.

For more information:

CBJ News Maker

Monarch Mining Corporation Closes Private Placement for C $ 14.4 Million and Alamos Goldfile Early Warning Report, Canadian Business Journal

Source link Monarch Mining Corporation Closes Private Placement for C $ 14.4 Million and Alamos Goldfile Early Warning Report, Canadian Business Journal

Related Articles

Back to top button