Monark Mining Corporation Announces Private Placement for Canadian Business Journal

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Montreal, March 16, 2022 (GLOBE NEWSWIRE) — Monark Mining Co., Ltd. (“”Monarch” or “Ltd(TSX: GBAR) (OTCQX: GBARF) announces that it has signed an agreement with Steel GMP and Sprott Capital Partners LP as co-lead manager and co-lead manager (“Co-lead agentOn behalf of the agent’s syndication (with the co-lead agent, “)Agent“), Offering our units in the private placement market in connection with the best efforts proposed (“unit”) Total revenue to us up to approximately $ 10 million at a price of $ 0.60 per unit (“”Recruitment“).

Each unit consists of one common stock of our capital (“”Common stock“) And one transferable common stock purchase warrant (“”warrant“)Company’s. Each warrant shall give its holder the right to acquire one common stock of the company’s capital (each, “”Warrant share”) From the deadline to a date five years later, at a price of C $ 0.95 per warrant share.

The company gives the agent an option (“Agent options”) You can increase the size of the offering up to 20% of the units sold under the offering and exercise all or part of it at any time up to 48 hours before the end date.

The net offering revenue will be used by us for general corporate purposes, including development spending on Beauforme and Beacon Mills, and working capital.

The offering is scheduled to end around April 6, 2022 (“Settlement date”) And is subject to certain conditions, including but not limited to the receipt of all required regulations and other approvals, including TSX approval.

This press release does not constitute an offer to sell or buy securities in the United States. Securities have not been and will not be registered under the Securities Act of 1933 (“US Securities Act”) or the State Securities Act. It may not be offered or sold in the United States, or for that purpose. American accounts or interests (as defined in Regulation S of US Securities Law) unless registered under US Securities Law and applicable State Securities Law or an exemption from such registration is available.

About Monark
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.Monark 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
The forward-looking statements in this press release are known that Monarch’s actual results, performance, and outcomes may differ materially from those shown or implied therein. And includes unknown risks, uncertainties, and other factors. Neither TSX nor its regulatory service provider (the term is defined in TSX policy) is responsible for the validity or accuracy of this press release.

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Monark Mining Corporation Announces Private Placement for Canadian Business Journal

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