- Amalgamation of Montan Capital Corp.
(TSXv: MO.P) and Strait Minerals Inc. (TSXv: SRD) is complete,
resulting in the launch of Montan Mining Corp. (TSXv:
MNY).
- New management team is led by Ian Graham – CEO (ex- Rio Tinto / Anglo American) and includes Mr. Michel Robert – Director (former Senior Vice
President of Pan American Silver) and Mr. Luis Zapata – Executive Chairman (former Head of
Latin America Institutional Equity Sales at Canaccord Genuity and
Peru based).
- Creates a new Peru-focused mine development
company.
- Company will look to grow through project
advancement and M&A with a focus on advanced and cash-flow
mining opportunities.
VANCOUVER, March 6, 2015 /CNW/ - Strait Minerals Inc. (now
Montan Mining Corp. (TSXv: MNY) "Montan Mining") is pleased
to announce the amalgamation of Montan Capital Corp. ("Montan
Capital") and 1023174 B.C. Ltd., a newly incorporated
wholly-owned subsidiary of Montan Mining, pursuant to the
Amalgamation Agreement dated January 6,
2015 to create a new Peru-focused mine development company.
In connection with the amalgamation, Strait Minerals Inc.
changed its name to Montan Mining Corp. and consolidated the former
Strait issued and outstanding shares on the basis of one new common
share (each post-consolidation share, a new "Montan Mining
Share") for every ten old common shares. The former
shareholders of Montan Capital were issued an aggregate of
8,000,000 Montan Mining Shares after the Strait consolidation. A
finder's fee of 250,000 Montan Mining Shares was issued to Longford
Exploration Services Ltd. in relation to the amalgamation.
Montan Mining anticipates that its shares will trade on
March 9, 2015 under the symbol "MNY"
and a CUSIP of 61186P102. The shares of Montan Capital will be
delisted from the TSX Venture Exchange at the close of market
today.
In connection with the closing of the amalgamation, Montan
Mining completed the first tranche of the concurrent financing and
raised gross proceeds of $527,000 by
the issuance of 5,270,000 Montan Mining Shares at a price of
$0.10 per Montan Mining Share. Montan
Mining paid an aggregate finder's fee of $5,600 and issued finders' warrants, which
entitle the holders to purchase up to 56,000 Montan Mining Shares
at a price of $0.10 per Montan Mining
Share for a period of 12 months. All Montan Mining Shares issued in
connection with the concurrent financing and the finder's fee are
subject to a statutory hold period expiring on July 6, 2015. Montan Mining anticipates closing
additional tranches on the same terms. The issued and
outstanding capital of Montan Mining after giving effect to the
amalgamation and the concurrent financing is 19,728,259.
Insiders of Montan Mining subscribed for 550,000 Montan Mining
Shares in the first tranche of the concurrent financing. The
insider private placements are exempt from the valuation and
minority shareholder approval requirements of Multilateral
Instrument 61-101 ("MI 61-101") by virtue of the exemptions
contain in section 5.5(a) and 5.7(1) (a) of MI 61-101 in that the
fair market value of the consideration for the securities of Montan
Mining to be issued to the insiders does not exceed 25% of its
market capitalization.
In connection with the closing of the amalgamation, Ian Graham was appointed as Montan Mining's
Chief Executive Officer and Ryan
Fletcher was appointed as Montan Mining's President and
interim Chief Financial Officer. Also, Ian
Graham, Ryan Fletcher,
Luis Zapata, and Michel Robert were appointed to Montan Mining's
board of directors and Roger Moss,
John Gammon, William Johnstone, Austin Gulliver, and Frank van de Water resigned as directors of
Montan. James S. Borland, former
President and Chief Executive Officer of Strait, remains as a
director of Montan Mining. The following is a brief biography on
Montan Mining's new officers and directors.
Mr. Ian Graham, B.Sc. (Hons),
Geology
Mr. Graham is an accomplished mining professional with over 20
years of experience in the development and exploration of mineral
deposits, mostly gained with the major mining companies Rio Tinto
and Anglo American. Formerly Chief
Geologist with the Project Generation Group at Rio Tinto located in
Vancouver, Mr. Graham has been
involved with evaluation and pre-development work on several
projects in Canada and abroad
including the Diavik Diamond Mine (Northwest Territories, Canada), Resolution
Copper (Arizona, USA), Eagle
Nickel (Michigan, USA),
Lakeview Nickel (Minnesota, USA) and Bunder Diamonds
(India). Prior to his work with
Rio Tinto, Ian held exploration geologist roles with Anglo American. Ian graduated from the
University of Natal (now Kwa-Zulu Natal) in Durban, South Africa with a B.Sc. in Geology
and Applied Geology (1984) and B.Sc. (Hons) in Geology (1985).
Mr. Ryan Fletcher, B.A.
(Econ)
Mr. Ryan Fletcher is an
entrepreneur and financier with a focus on the mining and mineral
exploration space. Mr. Fletcher co-founded Montan Capital Corp. in
2012 with the goal and mandate to identify a strong Qualifying
Transaction in the resource and mining space, with a focus on
Peru. Most recently, Mr. Fletcher
was a Director of Zimtu Capital Corp., a resource investment issuer
listed on the Exchange. Mr. Fletcher brings extensive knowledge and
experience in public company management, corporate compliance and
governance, financing, marketing, and communications and
shareholder relations, as well as an energetic and entrepreneurial
spirit and passion for the industry. He is a graduate of the
University of British Columbia Okanagan
with a Bachelor of Arts degree in Economics.
Mr. Luis F. Zapata
Mr. Zapata was previously Partner and Head of Capital Markets at
Seminario SAB, Peru's largest
independent brokerage firm. Prior to that, he was Head of Latin
America Institutional Equity Sales at Canaccord Genuity. Mr. Zapata
has structured, financed or participated in over $500M of equity raises for natural resources
companies with a focus on connecting Latin American assets with
Canadian and global public market financing and listing vehicles.
Mr. Zapata is a frequent media commentator on the resource sector
in Peru and a dual
Canadian/Peruvian citizen fluent in English and Spanish.
Mr. Michel Robert, B.A.,
B.A.Sc. (Hons), M.A.Sc. (Hons), Mining Engineering
Mr. Michel Robert has over 40
years of professional experience in the mining industry. He
previously served for nine years at Teck Corporation as corporate
metallurgist, lead engineer and start-up manager. Mr. Robert was
also a director of SNC, one of three founders of Simons Mining
Group (now Amec) and Senior Vice President for Pan American Silver
Corp. from 1995 to 2001, where he was responsible for the
management of operation in Latin
America and the expansion of the company in Peru, Mexico,
and Bolivia.
More recently, Mr. Robert was Vice President of Quinto Mining
Corp. which was acquired by Consolidated Thompson Iron Mines for
C$150 million in 2008 for the Peppler
Lake and Lamelee iron deposits. The resources on these two
contiguous grass root projects were advanced to a level of slightly
more than a billion tonnes in the span of two seasons for less than
$5M by Mr. Robert's team.
Montan will advance the Alicia Project in southern Peru for its high-grade copper potential and
provide its shareholders with a platform to seek further advanced
and/or cash flow opportunities in the Peruvian mining sector
presented by the current malaise in the mining and resource
market.
For additional information regarding the transactions disclosed
in this news release, please see the Joint Information Circular
dated January 23, 2015 and the copy
of the Amalgamation Agreement, which have been filed under Montan's
profile on SEDAR at www.sedar.com.
MONTAN MINING
CORP.
"Ian Graham"
Ian Graham
CEO and Director
Ph: +1 604.671.1353
Email: ian@montanmining.ca
About Montan Mining Corp.
Montan Mining Corp. (TSXv: MNY) is positioned for growth in
Peru through the acquisition and
development of advanced and/or cash flow mining opportunities.
Montan is backed by an experienced and high-energy management team
with diverse technical, market and finance strengths and expertise
and is supported by committed and sophisticated investors focused
on building value for the long term.
Neither the 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 news release.
Cautionary Note Regarding Forward-Looking Statements Certain
statements herein may contain forward-looking statements and
forward-looking information within the meaning of applicable
securities laws. Forward-looking statements or information appear
in a number of places and can be identified by the use of words
such as "plans", "expects", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "believes" or variations
of such words and phrases or statements that certain actions,
events or results "may", "could", "would", "might" or "will" be
taken, occur or be achieved. Forward-looking statements and
information include statements regarding the future plans of Montan
Mining. With respect to forward looking statements and information
contained herein, we have made numerous assumptions, including
assumptions about our ability to complete further tranches of the
concurrent financing. Such forward-looking statements and
information are subject to risks, uncertainties and other factors
which may cause the resulting issuer's actual results, performance
or achievements, or industry results, to be materially different
from any future results, performance or achievements expressed or
implied by such forward-looking statement or information. Such
risks include discrepancies between actual and estimated mineral
resources, subjectivity of estimating mineral resources and the
reliance on available data and assumptions and judgments used in
the interpretation of such data, speculative and uncertain nature
of exploration, exploration costs, capital requirements and the
ability to obtain financing, volatility of global and local
economic climate, share price volatility, estimate price
volatility, changes in equity markets, increases in costs, exchange
rate fluctuations and other risks involved in the mineral
exploration industry. There can be no assurance that a
forward-looking statement or information referenced herein will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements or
information. Also, many of the factors are beyond the control of
the resulting issuer. Accordingly, readers should not place undue
reliance on forward-looking statements or information. We undertake
no obligation to reissue or update any forward-looking statements
or information except as required by law. All forward-looking
statements and information herein are qualified by this cautionary
statement.
SOURCE Montan Capital Corp.