Monument Received $12 Million through Exercise of Stock Purchase WarrantsCanada Newswire
VANCOUVER, July 23, 2012 /CNW/ - Monument Mining Limited (TSXV: MMY) and (FSE: D7Q1) "Monument" or the "Company" is pleased to announce that it has received $12,056,230 through exercise of stock purchase warrants of the Company.
GoldMet B.V., a Netherland based company ("GoldMet"), has purchased 24,112,500 transferrable stock purchase warrants of Monument privately and exercised them at $0.50 per share before the expiry date of July 21, 2012. As of today, a total of 208,658,030 common shares of the Company are issued and outstanding. 43,212,000 stock purchase warrants expired on July 21, 2012 bringing the total outstanding warrants of the Company down to 5,000,000.
The President and CEO Robert Baldock stated, "The Company is very pleased with this investment by Goldmet and to have a new major shareholder and supporter. This is especially so in these difficult market times. The investment at a premium to market demonstrates confidence in the Company going forward and in its development plans in Malaysia. This new capital is not only without cost to the Company - but it removes the overhang from the market that has been an issue constraining the share price of Monument for a good while".
Please visit our website at www.monumentmining.com for more information.
Robert F. Baldock, President and CEOMonument Mining LimitedSuite 910- 688 West Hastings StreetVancouver B.C. Canada V6B 1P1
"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."
This news release contains forward-looking statements about Monument Mining Limited ("Monument"), its business and future plans. Forward-looking statements are statements that are not historical facts and include the timing of the proposed programs and events. The forward-looking statements in this news release are subject to various risks, uncertainties and other factors that could cause actual results or achievements to different materially from those expressed or implied by the forward-looking statements. These risks and certain other factors include, without limitation, the estimated cash cost per ounce of gold production and the estimated cash flows which may be generated from the operations, general economic factors and other factors that may be beyond the control of Monument;statements regarding the future price of gold; the estimation of mineral resources; conclusions of economic evaluation (including scoping studies); the realization of mineral resource estimates; the timing and amount of estimated future production, development and exploration; costs of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government regulation of mining operations; and environmental risks. Generally, forward-looking information can be identified by the use of forward- looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; foreign operations risks; other risks inherent in the mining industry and other risks described in the annual information form of the Company, which is available under the profile of the Company on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward- looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.