MONTORO APPLIES FOR WARRANT EXERCISE PRICE AMENDMENTS
posted on
Dec 22, 2015 01:22PM
Exploring The Future of Green Resources in Canada
International Montoro Resources Inc. (TSX-V: IMT) (the "Company") announces that it will be making an application to the TSX Venture Exchange to amend the exercise price of certain warrants issued. The private placements which these warrants relate to closed in three tranches: February 18, 2015, April 10, 2015 and April 21, 2015. These warrants have an expiry date of February 18, 2017; April 10, 2017 and April 21, 2017 with an exercise price of $0.10 in the first year and $0.14 in the second year. The Company will be seeking approval to amend the exercise price to $0.07. All other terms of the warrants will remain the same. Insiders hold an aggregate of 100,000 of the 7,792,000 warrants. The above mentioned amendments are subject to regulatory approval. About International Montoro Resources Inc. Montoro is focused on advancing its 100%-owned Serpent River - Elliot Lake, Northern Ontario, and Pecors magnetic anomaly - a potential
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 2,268 ha (5 claims, 5,604 acres, the Chuchinka property) contiguous to and adjoining the Wicheeda, a previously reported
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 owns with Belmont Resources Inc. (50/50) its Crackingstone (982 ha, 2,427 acres) and Orbit (11,109 ha, 27,450 acres)
properties in the Uranium City District, Northern Saskatchewan, and is seeking a joint venture partner to continue development of this advanced property.
ON BEHALF OF THE BOARD OF DIRECTORS
" Gary Musil"
Gary Musil,
President, CEO and Director
Neither 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 release
.