VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 7, 2013) - GoldMet B.V. ("GoldMet") is pleased to announce that it has resolved its dispute with Monument Mining Limited (TSX VENTURE:MMY) ("Monument") regarding financial and strategic matters.
Pursuant to this:
- GoldMet, the largest shareholder of Monument, has agreed to withdraw the concerns that they had previously expressed.
- GoldMet will support Monument's intention to pursue the reinforcement of its presence in Malaysia, satisfying Monument's commitments to the government across a range of community and social responsibility initiatives.
- GoldMet will support Monument's management and Monument's progress in the development of the Mengapur Gold Project, the extension of the gold deposits portfolio and is confident in the future of Monument.
- Monument has cancelled the previously contemplated $80 million brokered private placement led by Mackie Research Capital Corporation, and, with the support of GoldMet, will pursue other options to satisfy its planned capital expenditure requirements. Both companies will work jointly in relation to such options.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained herein are "forward looking statements" within the meaning of applicable securities laws. Often, but not always, forward-looking statements may be identified by their use of forward-looking terminology such as the words "plans", "expects", "expected", "projects", "believes", "anticipates", "intends", "estimates", "scheduled" or other similar 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 are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to known and unknown risks, uncertainties and other factors which could cause actual results, performances or achievements to differ materially from future results expressed or implied by such forward looking statements. Factors related to such risks and uncertainties, and underlying estimates and assumptions include, among others, the Concerned Shareholder's assessment of the effect of the proposed changes on the Company and on the shareholders of the Company, the timing and prospects for the implementation thereof, general economic and market conditions, changes in law and the ability to implement business strategies and pursue business opportunities. Shareholders are cautioned that all forward-looking statements involve risks and uncertainties, including those risks and uncertainties detailed in the Company's filings with applicable Canadian securities commissions, copies of which are available at www.sedar.com. Accordingly, undue reliance should not be placed on forward looking statements or information. We do not expect to update forward-looking statements or information continually as conditions change, except as may be required by law.
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 release.