Monumental Energy Corp. (“Monumental” or the “Company”) (TSX-V: MNRG; FSE: ZA6; OTCQB: MNMRF) is pleased to announce the appointment of Chris Mackay to the Company’s board of directors (the “Board”).
Change of Directors
Monumental Energy announces the resignation of Kris Raffle from the Board. The Company extends its sincere gratitude to Mr. Raffle for his contributions to the Company.
About Chris Mackay
Mr. Chris Mackay is the CEO of Strand Finance (a division STRAND). Strand development and finance is a Vancouver-based finance, development, and investment company active across North America. Since 1976, Strand has acquired, developed, and financed a portfolio of real estate assets valued at over $16 billion, comprised of over 47,000 homes.
Strand has been actively involved in many real estate sectors, including the acquisition of development sites, the development of high‐rise condominiums, multi-family apartment buildings, single family communities, office towers, and industrial projects, as well as providing financing to developers for residential and commercial developments throughout North America.
Maximilian Sali, CEO, Director and Founder comments:
“It’s a pleasure to have Chris Mackay join our board. His business acumen is second to none and he has done a tremendous job building his family’s real estate business. He significantly adds value and strength to our board and I look forward to having him assist with corporate decisions. I want to thank Kris Raffle for his time on our board. Kris has been a director since the inception of this Company and has always been key in board decisions.”
Chris Mackay, newly appointed director comments:
“I have known Max for a very long time and after doing a lot of due diligence and speaking to him about how the Company will move forward, I wanted to be involved and join the board. I look forward to helping the Company with its oil and gas initiatives in New Zealand.”
Stock Options
The Company also announces that it has granted incentive stock options (“Options”) to certain directors, officers and consultants of the Company to purchase up to an aggregate 2,900,000 common shares of the Company at a price of $0.10 per common share for a period of three years from the date of grant, pursuant to the Company’s equity incentive plan. The Options vest of the date of grant. All of the Options (and any shares issuable upon exercise or settlement thereof) will be subject to a four month and one day hold period from the date of grant pursuant to the policies of the TSX Venture Exchange.
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 sectors. The Company is building a strategic position in New Zealand’s onshore Taranaki Basin, targeting near-term oil production and longer-term natural gas development.
The Company has a funding agreement with New Zealand Energy Corp. (“NZEC”) targeting production optimization and workover opportunities across existing fields. The Company also holds securities of NZEC and a call option and royalty interest related to the Copper Moki wells.
Monumental additionally maintains exposure to the critical minerals sector through a 2% net smelter return royalty on Summit Nanotech’s interest in the Salar de Turi lithium project in Chile.
On behalf of the Board of Directors,
/s/ “Max Sali”
Max Sali, CEO and Founder
Contact Information:
Max Sali, Chief Executive Officer, Director and Founder
Email: max@monumental.energy
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, carrying out future work on the Company’s oil and gas projects, potential additional 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 addressevents 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 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.