THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
MONTREAL, Dec. 10, 2021 (GLOBE NEWSWIRE) -- MONARCH MINING CORPORATION (“Monarch” or the “Corporation”) (TSX: GBAR) (OTCQX: GBARF) announces that it has filed a preliminary short form base shelf prospectus (the “Preliminary Shelf Prospectus”) with the securities regulatory authorities in all the provinces of Canada (except the territories).
Monarch has filed this Preliminary Shelf Prospectus to provide the Corporation with greater financial flexibility going forward but has not entered into any agreements or arrangements to authorize or offer any Securities (as defined below) at this time.
Once a receipt for the final short form base shelf prospectus (the “Shelf Prospectus”) has been obtained from the applicable Canadian securities regulatory authorities, Monarch will be able to offer for sale and issue common shares (including common shares issued on a “flow-through” basis), debt securities, subscription receipts, warrants and units of the Corporation (collectively, the “Securities”), or any combination thereof, up to an aggregate total of CA$100 million from time to time during the 25-month period that the Shelf Prospectus remains effective. The Securities may be offered in amounts, at prices and on terms to be determined at the time of sale and, subject to applicable regulations, may include “at-the-market” transactions, public offerings or strategic investments. The specific terms of any offering of Securities, including the use of proceeds from any offering, will be set forth in one or more shelf prospectus supplement(s) to be filed with applicable securities regulators.
The Corporation has filed the Preliminary Shelf Prospectus to have the ability to react quickly to market opportunities for raising additional capital by offering the Securities on an accelerated basis pursuant to the filing of prospectus supplements. However, there is no certainty any Securities will be offered or sold under the Shelf Prospectus within the 25-month period.
A copy of the Preliminary Shelf Prospectus, and copies of the final short form base shelf prospectus and any shelf prospectus supplements that may be filed in the future, can be found under the Corporation's SEDAR profile at www.sedar.com, or may be obtained by request from the Director, Legal Affairs and Corporate Secretary of Monarch Mining Corporation at 68 Avenue de la Gare, Suite 205, Saint-Sauveur, Quebec J0R 1R0 telephone: 1 (514) 840-9709 or toll free 1 (888) 994-4465, or to info@monarchmining.com.
No securities regulatory authority has either approved or disapproved the contents of this news release. No Securities may be sold, nor may offers to buy be accepted, prior to the time the Shelf Prospectus becomes effective. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Corporation in any jurisdiction in which such offer, solicitation or sale would be unlawful.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the Securities in the United States. The Securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Monarch
Monarch Mining Corporation (TSX: GBAR) (OTCQX: GBARF) is a fully integrated mining company that owns four projects, including the Beaufor Mine, which has produced more than 1 million ounces of gold over the last 30 years. Other assets include the Croinor Gold, McKenzie Break and Swanson properties, all located near Monarch’s wholly owned 750 tpd Beacon Mill. Monarch owns 28,702 hectares (287 km2) of mining assets in the prolific Abitibi mining camp that host a combined measured and indicated gold resources of 478,982 ounces and a combined inferred resource of 383,393 ounces.