International Montoro arranges $20,000 demand loan

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International Montoro arranges $20,000 demand loan

posted on Jul 27, 2017 12:05PM

2017-07-24 11:33 ET - News Release

Mr. Gary Musil reports

MONTORO ARRANGES $20,000 DEMAND LOAN

International Montoro Resources Inc. has arranged a demand loan for $20,000 from a related party/director.

The proceeds of the loan are to be used for the payment of annual sustaining fees, costs relating to the completion of the share capital consolidation (certificate printing and transfer agent fees, regulatory filing fees, and so on) and working capital.

The loan bears interest at 12 per cent per annum with monthly compounding and interest is payable semi-annually. As the loan is with a related party/director, TSX Venture Exchange policy amendments no longer permit loan/bonus shares to be issued to directors.

About International Montoro Resources Inc.

Montoro is focused on advancing its 100-per-cent-owned Pecors magnetic anomaly in Serpent River-Elliot Lake, Northern Ontario, a potential nickel-copper-platinum-group-element discovery. The southwestern portion of the property has located uranium/REE (rare earth elements) 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 hectares.