AMSTERDAM, NETHERLANDS--(Marketwire - July 16, 2012) - GoldMet B.V. ("GoldMet"), announced today that further to its news release of July 12, 2012, it has acquired ownership of 30,000,000 common shares (each, a "Monument Share") of Monument Mining Limited ("Monument"). The purchased Monument Shares represents approximately 14.4% of those issued and outstanding. The common shares of Monument are listed on the TSX Venture Exchange under the symbol "MMY". GoldMet acquired ownership of the Monument Shares from an offshore controlling shareholder of GoldMet in a private transaction for aggregate consideration of CAD$7,200,000. The controlling shareholder had earlier on July 16, 2012 acquired such block of Monument Shares from an offshore arm's length third party pursuant to a private share purchase agreement. The Monument Shares were acquired by GoldMet for investment purposes.
GoldMet expects to exercise the 24,112,500 warrants to purchase common shares of Monument (the "Warrants") acquired on July 12, 2012, on or prior to July 21, 2012, and may acquire additional Monument Shares, before or after such date. For further details with respect to the Warrants, investors should refer to the press release of GoldMet dated July 12, 2012.
Assuming the exercise by GoldMet of all of the Warrants, which is expected to occur offshore, and when added to the 30,000,000 Monument Shares, GoldMet will own 54,112,500 Monument Shares, representing approximately 26.0% of the issued and outstanding common shares of Monument. From time to time, GoldMet may dispose of some or all of the securities it holds or will hold, or may continue to hold its current position depending on the business and prospects of Monument and GoldMet itself, as well as future market conditions.
About GoldMet B.V.
GoldMet B.V. is a private company with limited liability incorporated under the laws of the Netherlands. GoldMet's address is: Lairessestraat 154, 1075 HL Amsterdam, The Netherlands, Attention: George Molyviatis, E-mail: email@example.com.