Moneta Gold Inc Com MPUCF

Financing NR

[4u]

Dear Shareholders,

Appended below (with active links to our website), please find a press release from Moneta Porcupine Mines Inc. ("Moneta") disseminated today, December 11, 2012.

We are pleased to announce today's significant financing given the ongoing neutral to negative sentiment on the gold sector, in particular juniors like Moneta. This bought deal reflects continued support from our key institutional investors, and adds additional top tier institutional names to the story.

Members of the financing syndicate have interest in initiating full research coverage which will be instrumental in getting Moneta onto a broader range of peer group comparison tables. This increased awareness of Moneta's story could prove to be a very important catalyst.

We are now fully funded for the 2013 exploration program and are well positioned to advance our large and open Golden Highway NI 43-101 gold resource.

Do not hesitate to contact me with any questions.

Ian C. Peres, CA
President & CEO
Tel. [phone] (Toronto)
Tel. [phone] (Timmins)

 

 

Tuesday, December 11, 2012
Moneta Porcupine Mines Announces $7.0 Million Bought Deal Financing

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

December 11, 2012, Timmins, Ontario - Moneta Porcupine Mines Inc. (TSX:ME) (OTC:MPUCF) (XETRA:MOP) (the "Company") announces that it has entered into an agreement with Haywood Securities Inc. ("Haywood"), pursuant to which a syndicate of underwriters led by Haywood(the "Underwriters") will purchase flow-through common shares ("Flow-Through Shares") and common shares of the Company (the "Common Shares") at a price of $0.35 per Flow-Through Share and $0.26 per Common Share (the "Issue Price"), for aggregate gross proceeds of $7,000,000.

In addition, the Company will grant the Underwriters an option to sell additional flow-through shares at $0.35 (the "Over-Allotment Flow-Through Shares" and together with the Flow-Through Shares and Common Shares, the "Offered Securities"), to raise additional gross proceeds of up to $2,000,000.

The proceeds received by the Company from the sale of the Flow-Through Shares will be primarily used to incur Canadian exploration expenditures that are "flow-through mining expenditures" (as such terms are defined in the Income Tax Act (Canada)) on the Company's Golden Highway project, which will be renounced to the subscribers with an effective date no later than December 31, 2012, in the aggregate amount of not less than the total amount of the gross proceeds raised from the issue of Flow-Through Shares. The net proceeds from the sale of common shares will be used for working capital and general corporate purposes.

Closing of the offering is anticipated to occur on or about December 31, 2012 and is subject to receipt of applicable regulatory approvals including approval of the TSX. The Offered Securities will be subject to a four month hold period under applicable securities laws in Canada.