Another tranche of convertible debenture announced"
Mr. Ian Graham reports MONTAN MINING CORP. LISTS ON SANTIAGO STOCK EXCHANGE, CLOSES SECOND TRANCHE OF CONVERTIBLE NOTE PLACEMENT
Montan Mining Corp.'s shares commenced trading on the Santiago Stock Exchange under the symbol MNYCL on Sept. 10, 2015. On the SSE, Montan's shares trade in Chilean Pesos. This listing offers access to the Latin American Integrated Market ("MILA"), Latin America's largest stock trading platform. This listing and platform will in time result in the Company's shares also being listed in the respective Andean markets of Peru, Colombia and Mexico under the MNYCL symbol. Trading of Montan shares on the SSEV will be denominated in Chilean Pesos. The incorporation of Montan in the Venture Market of the Santiago Stock Exchange is enabled under the agreement signed on March 2014 between the Santiago Stock Exchange and TSXV, which allows Canadian securities listed on the TSXV access to a dual listing on the Venture Market of the Santiago Stock Exchange. Montan has included significant Latin American shareholders since inception, and the MNYCL listing provides the Company with access to investors and new funding opportunities in Latin American capital markets. The MILA integrated platform allows investors in Chile, Peru, Colombia and Mexico to seamlessly trade shares listed on any of the four markets through their local broker and stock exchange.
The Company's shares are also currently listed on the Frankfurt Exchange under the symbol S5GM (FSE: S5GM). Luis Zapata, Executive Chairman of Montan Mining commented, "We are pleased to list Montan on the Santiago Stock Exchange. This listing gives our Latin American investors greater trading flexibility in their domestic markets, and continues our plan to become increasingly vested in Latin America and to enhance participation by investors in these, our host countries."
The Company also announces that it has closed the second tranche of its convertible note placement announced on August 25, 2015. The Company issued convertible notes (each, a "Note") in the aggregate amount of $129,069.75 (the "Offering"). Each Note accrues simple interest at 14% per annum which has been prepaid until maturity, being one year from issuance. The principal amount of each note is convertible at any time at a price of $0.125 into units of the Company comprising one common share and one common share purchase warrant. Each warrant may be exercised at an exercise price of $0.175 into one additional common share of the Company until September 8, 2017. The Company expects to close additional tranches of the Offering in coming weeks.
The proceeds of the Offering will be used to advance the Company's operations at the Mollehuaca Gold Processing Plant in anticipation of its acquisition, as announced by the Company on June 11, 2015, and for working capital.
The Company did not pay any finder's fees in connection with the Offering.
The securities issued in connection with the closing of the Offering are subject to a restricted period that expires on January 9, 2016."