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Message: MONTORO COMPLETES A FURTHER 2.0 MILLION UNIT FINANCING -$100,000

 

 

March 22, 2019   - Vancouver, B.C. -  International Montoro Resources Inc. (TSX-V: IMT) (the "Company").

Montoro announces that it intends to complete a further non-brokered private placement (the “Financing”) for up to 2,000,000 non flow-through common share Units (“NFTS”) at a price of $0.05 per NFTS to raise gross proceeds of up to $100,000.  Each NFTS Unit will consist of one common share of the Company and one  two year transferable share purchase warrant (a “Warrant”) permitting the holder to acquire one additional share of the Company  at $0.10. 

In addition to relying upon other available prospectus exemptions to effect the Financing, a portion of the private placement may be completed in accordance with the exemption set out in BC Instrument 45-536 (Exemption from prospectus requirement for certain distributions through an investment dealer), (the “Investment Dealer Exemption”).  The Company also confirms there is no material fact or material change related to the Company which has not been generally disclosed.

The Company may pay commissions of 8% to eligible parties in connection with this financing, payable either in cash and/or in warrants.  The Common Shares and Warrants are subject to a statutory hold period and the Financing is subject to TSX Venture Exchange (“TSXV”) approval.

The Company intends to use the proceeds from the private placement for property payments, exploration on current acquisitions as well as previously held properties;  and working capital.
 
About International Montoro Resources Inc.

 
(i) In February 2019 Montoro entered into acquisition agreements with various vendors, to acquire claims in the Cariboo Mining Division, British Columbia, with one claim block adjoining the well-known Wicheeda REE project.
 
(ii) Montoro will continue to focus on advancing its 100%-owned Serpent River - Elliot Lake, Northern Ontario, Pecors magnetic anomaly - a potential Ni-Cu-PGE discovery. The southwestern portion of the property has locatedUranium/REE mineralization from previous drilling in the general area where Rio Algom discovered uranium. The property comprises 10 mineral claims (115 units), or approximately 1,840 ha.
 
(iii) In February 2018 Montoro received approval for the acquisition of the Duhamel, Quebec property.  The Ni-Cu-Coprospect consisted of nine (9) mineral claims comprising 500 ha.  Additional staking of thirty-two (32) adjoining mineral claims and compiling of data has been underway since February;  and the expanded property now totals approximately 2,300 ha and prospective for Titanium, Vanadium, and Chromium..
 
In addition the Company owns jointly with Belmont Resources Inc. (50/50) its Crackingstone (982 ha, 2,427 acres)Uranium properties in the Uranium City District, Northern Saskatchewan, and is seeking a joint venture partner to continue development of this advanced property.

 

Further information can be found on the Company’s website at www.montororesources.com and on www.Sedar.com, or by phoning 604-683-6648.

ON BEHALF OF THE BOARD OF DIRECTORS
"Gary Musil”
Gary Musil, CEO/President

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