Montan Capital Corp. Completes Initial Public Offering as a Capital
Pool Company
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
VANCOUVER,
Dec. 5, 2012 /CNW/ - Montan
Capital Corp. ("Montan" or the "Company")
(TSX-V: MO.P) is pleased to announce that it has successfully
completed its initial public offering (the "IPO") of
3,000,000 common shares (each, a "Share") at a price of
$0.20 per Share for gross proceeds of
$600,000 (the "Proceeds").
Canaccord Genuity Corp. acted as agent (the
"Agent") for the IPO. The Company paid the Agent a cash
commission equal to 10% of the Proceeds and granted the Agent and
its sub-agent an aggregate of 300,000 non-transferable warrants
(each, an "Agent's Warrant"), each of which entitles
the Agent and its sub-agent to purchase one Share at a price of
$0.20 per Share for a period of 24
months from the date of the listing of the Shares on the TSX
Venture Exchange Inc. (the "Exchange"). The Company also
paid the Agent an administration fee. The Company also granted the
Agent a right of first refusal to participate in any further
brokered financing of equity or securities convertible into equity,
or to provide sponsorship services for any Qualifying Transaction
(as defined in the policies of the Exchange), for a period of 24
months from the date of the listing of the Shares on the
Exchange.
Montan granted an aggregate of 800,000 stock
options to its directors and officers, each of which is exercisable
into one Share at a price of $0.20
per Share for a period of ten years from the date of the listing of
the Shares on the Exchange.
The Company is a Capital Pool Company (as
defined in the policies of the Exchange). The Company has not
commenced operations and has no assets other than cash. The
directors and officers of Montan are as follows:
Ryan Fletcher -
President, CEO, CFO, Secretary, and Director
Mr. Ryan Fletcher
has served as President, Chief Executive Officer, Chief Financial
Officer, Secretary and a Director of the Company since August 16, 2011. Mr. Fletcher is currently a
Director of Zimtu Capital Corp. ("Zimtu"), an investor in
early stage companies with a focus on the resource sector.
Mr. Fletcher originally joined Zimtu in 2009 as Manager
Corporate Development and has been responsible for identifying and
sourcing projects, structuring companies and investments, marketing
group companies, capital raising and business development. Mr.
Fletcher is a graduate of the University of
British Columbia Okanagan with a Bachelor of Arts degree in
Economics. Prior to joining Zimtu, Mr. Fletcher worked as a
consultant for publicly-listed mineral exploration and development
companies.
Michel Robert - Director
Mr. Michel Robert
has served as a Director of the Company since August 16, 2011 and an audit committee member of
the Company since August 16, 2011.
Mr. Robert has over 34 years of professional experience in the
mining industry. He previously served as Senior Vice President for
Pan American Silver Corp. from 1995 to 2001. More recently,
Mr. Robert was Vice President of Quinto Mining Corp. which was
acquired by Consolidated Thompson Iron Mines Ltd. Mr. Robert is
currently a director of Critical Elements Corp.
Ian Graham -
Director
Mr. Ian Graham
has served as a Director of the Company since August 16, 2011 and an audit committee member of
the Company since August 16, 2011.
Mr. Graham is formerly Chief Geologist with Rio Tinto Exploration
from March 2006 until January 2009 and also consults to Western Potash
Corp. as Evaluation and Project Development. Mr. Graham is a
director at Commerce Resources Corp. Mr. Graham is also President
and Director of Discovery Harbour Resources Corp., a private junior
mining company.
Alfredo Ferrero -
Director
Mr. Alfredo
Ferrero has served as a Director of the Company since
August 16, 2011 and an audit
committee member of the Company since August
16, 2011. Mr. Ferrero is a partner at Navarro, Ferrero &
Pazos Abogados law firm in Lima
Peru. From 2003 to 2006 Mr. Ferrero was Peru's Minister of Foreign Trade and Tourism.
Mr. Ferrero has a masters degree from Harvard
University School of Law. From 2008 to 2012, Mr. Ferrero was
a board member of Empresa de Distribución Eléctrica de Lima Norte
S.A.A. (also known as Edelnor), a company registered in
Peru and listed on the Lima
Exchange. From 2008 to 2012, Mr. Ferrero was a board member of
Corporación PECSA, a private company registered in Peru. Mr. Ferrero was Chairman of the
board of Lima Cargo City, a private company registered in
Peru, and since 2009 he has been
Vice-Chairman.
The Company intends to use the net proceeds of
the IPO to identify and evaluate potential Qualifying Transactions
in accordance with the policies of the Exchange.
The Shares were listed for trading on the
Exchange under the symbol "MO.P" on December
5, 2012, and were immediately halted pending closing of the
IPO. The Company expects that the Shares will resume trading on
Tier 2 of the Exchange under the symbol "MO.P" on December 7, 2012.
ON BEHALF OF THE BOARD
"Ryan Fletcher"
Ryan Fletcher
President, Chief Executive Officer,
Chief Financial Officer and Director
Disclaimer for Forward-Looking
Information
Certain statements in this release are
forward-looking statements, which reflect the expectations of
management regarding the Company's listing of its common shares on
the Exchange. Forward-looking statements consist of
statements that are not purely historical, including any statements
regarding beliefs, plans, expectations or intentions regarding the
future, including but not limited to the shares resuming trading on
December 7, 2012. Such
statements are subject to risks and uncertainties that may cause
actual results, performance or developments to differ materially
from those contained in the statements, including risks related to
factors beyond the control of the Company. No assurance can be
given that any of the events anticipated by the forward-looking
statements will occur or, if they do occur, what benefits the
Company will obtain from them.
This press release does not constitute an
offer to sell or solicitation of an offer to buy any of the
securities in the United States.
The securities have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "U.S.
Securities Act") or any state securities laws and may not be
offered or sold within the United
States or to a U.S. Person unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption
from such registration is available.
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.
SOURCE Montan Capital Corp.