Antony Harwood

July 10, 2017 10:13 ET

Antony Harwood Reports Equity Interest in Montero Mining and Exploration Ltd.

TORONTO, ONTARIO--(Marketwired - July 10, 2017) - Antony Harwood ("Dr. Harwood"), the President, Chief Executive Officer and Director of Montero Mining and Exploration Ltd. (the "Corporation") and certain entities over which he has direction and beneficial interests in, namely, Global Mining Services Ltd. and Zander Investing Limited, have acquired Special Warrants of the Corporation which were issued pursuant to a Debt Settlement which was announced by the Corporation in a press release dated July 7, 2017.

Each eight (8) Special Warrants are exercisable into one (1) common share if the Corporation completes a share consolidation on the basis of eight (8) pre-consolidated common shares for (1) post-consolidation common share on or before September 30, 2017.

Prior to the Debt Settlement, Dr. Harwood owned, or exercised control or direction or had beneficial interest over 10,031,277 common shares, representing 11.84% of the issued and outstanding common shares of the Corporation.

Pursuant to the Debt Settlement, Dr. Harwood personally acquired 220,320 Special Warrants. In addition, Global Mining Services Limited and Zander Investing Limited acquired 8,829,840 Special Warrants and 7,507,520 Special Warrants respectively. Following the Debt Settlement and upon the share consolidation being completed, Dr. Harwood will own, or exercise control or direction or have beneficial interest over 3,323,620 common shares, representing 18.09% of the issued and outstanding common shares of the Corporation.

The Special Warrants acquired pursuant to the Debt Settlement are being held for investment purposes only, however, and depending on market and other conditions, Dr. Harwood may from time to time in the future increase or decrease his ownership, control or direction over common shares of the Corporation through market transactions, private agreements, or otherwise.

As a result of the Debt Settlement, the number of common shares Dr. Harwood will beneficially own, or exercise control or direction or have beneficial over of the Corporation following the completion of the share consolidation will increase by more than 2%. In satisfaction of the requirements of the National Instrument 62-104 - Take-Over Bids And Issuer Bids and National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, an Early Warning Report respecting the acquisitions of Special Warrants by Dr. Harwood and certain entities over which he has direction and control over will be filed under the Corporation's SEDAR Profile at www.sedar.com.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Contact Information

  • Antony Harwood
    P.O. Box 154
    Bedfordview Gauteng
    2008, South Africa
    + 27 11 6160784