The Company is continuing to receive subscriptions for a 2nd tranche of the private placement for additional funds for the Pecors drilling program and working capital.
Each unit consists of one common share at a price of $0.07 and one two year transferable share purchase warrant ("Warrant"). Each whole Warrant will entitle the holder to acquire one Common share at an exercise price of $0.10 for a period of 12 months from closing and at $0.14 in the second year. The Company will pay a finder's fee of up to 7.5% in cash or warrants. All of the securities issued pursuant to the private placement will be subject to a minimum four-month hold period and subject to TSX Venture Exchange acceptance.
About International Montoro Resources Inc.
Montoro is focused on advancing its 100% owned Serpent River - Elliot Lake, Northern Ontario, Pecors magnetic anomaly - a potential Ni-Cu discovery. The southwestern portion of the property has also located Uranium/REE mineralization from drilling in the general area where Rio Algom previously discovered uranium. The property comprises 10 mineral claims (115 units) approx. 1,840 ha.
Montoro holds a 100% interest in 5,604 acres (2,268 ha, 5 claims - the Chuchinka property) contiguous to and adjoining the Wicheeda, a previously reported Rare Earth discovery, northeast of Prince George, B.C. Montoro also holds a 100% interest in 3 mineral claims (160 ha) in the Tacheeda Lake camp. This property was previously a producing site of limestone ballast used during the construction of the B.C. Northern railway.
In addition the Company will owns with Belmont Resources Inc. (50/50) its Crackingstone - 2,.427 acres (982 ha) and Orbit -27,450 acres (11,109 ha) Uranium properties in the Uranium City District - Northern Saskatchewan, and hopes to continue its development through joint venture optioning.
For further information contact the Company at 604-683-6648. Also visit the Company website at www.MontoroResources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Gary Musil, President, CEO/Director