Monumental Energy Corp. (“Monumental” or the “Company”) (TSX-V: MNRG; FSE: ZA6; OTCQB: MNMRF) is pleased to announce a non-brokered private placement financing (the “LIFE Offering”) of a minimum of 7,692,308 and a maximum of 11,538,462 units of the Company (“Units”) at a price of C$0.13 per Unit, for gross proceeds of a minimum of C$1,000,000 and a maximum of C$1,500,000 (the “Offering”). Each Unit will be comprised of one common share in the capital of the Company (a “Share”) and one transferable Share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Share at an exercise price of C$0.25 for thirty-six (36) months following the closing date of the Offering.
The Units to be issued under the Offering will be offered to purchasers pursuant to the listed issuer financing exemption (“LIFE Exemption”) under Part 5A of National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”), in all the provinces of Canada, except Quebec. The Units offered under the LIFE Exemption will not be subject to resale restrictions pursuant to applicable Canadian securities laws.
There is an offering document related to the Offering that can be accessed under the Company’s profile at on SEDAR+ at www.sedarplus.ca and on the Company’s website at https://monumental.energy/. Prospective investors should read this offering document before making an investment decision.
The Company intends to use the net proceeds of the Offering and current working capital to fund the Copper Moki 1 and 2 workovers in New Zealand, for working capital and corporate expenses, due diligence and expenses related to potential other oil and gas wells in New Zealand, and for ongoing costs and payments on the Laguna Project located in Chile.
The closing date of the Offering is expected to occur on or about February 13, 2025, or such later date or dates as the Company may determine, and are subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including approval from the TSX Venture Exchange.
Finder’s fees of 7% in cash and 7% in finder warrants having an exercise price of $0.20 per common share and an expiry date of thirty-six (36) months, may be paid on a portion of the Offering in accordance with the policies of the TSX Venture Exchange and applicable securities laws.
The securities to be offered pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act or under any U.S. state securities laws, and may not be offered or sold in 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) absent registration or any applicable exemption from the registration requirements under the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Monumental Energy Corp.
Monumental Energy Corp. is an exploration company focused on the acquisition, exploration, and development of properties in the critical and clean energy sector, as well as investing in oil and gas projects. The Company owns securities of New Zealand Energy Corp. and entered into a call option and royalty agreement on the Copper Moki wells with New Zealand Energy Corp. The Company also has an option to acquire a 75% interest and title to the Laguna cesium-lithium brine project located in Chile. The Company holds a 2% net smelter return royalty on Summit Nanotech’s share of any future lithium production from the Salar de Turi Project.
On behalf of the Board of Directors,
/s/ “Michelle DeCecco”
Michelle DeCecco, CEO
Contact Information:
Michelle DeCecco, Chief Executive Officer and Director
Email: [email protected]
Or
Maximilian Sali, VP Corporate Development and Director
Email: [email protected]
Phone: 1-604-367-8117
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward Looking Information
This news release contains “forward‐looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, statements relating to the terms and completion of the Offering, the expected timing of closing the Offering, the use of proceeds of the Offering, advancing the Company’s projects, the potential plans for the Company’s projects, the plans for CM 1&2, potential oil and gas transactions, other statements relating to the technical, financial and business prospects of the Company, its projects, its goals and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals and the price of oil and gas, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner and that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses and those other risks filed under the Company’s profile on SEDAR+ at www.sedarplus.ca. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, failure to secure personnel and equipment for work programs, adverse weather and climate conditions, risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters),risks relating to inaccurate geological and development assumptions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to obtain or maintain surface access agreements or understandings from local communities, land owners or Indigenous groups, fluctuation in exchange rates, the impact of viruses and diseases on the Company’s ability to operate, capital market conditions, restriction on labour and international travel and supply chains, decrease in the price of lithium, cesium and other metals, decrease in the price of oil and gas, loss of key employees, consultants, or directors, failure to maintain or obtain community acceptance (including from the Indigenous communities), increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.
