Monarques Resources Inc.
TSX VENTURE : MQR
FRANKFURT : MR7

Monarques Resources Inc.

June 30, 2014 15:58 ET

Monarques Closes a $404,999.70 Private Placement

QUÉBEC CITY, QUEBEC--(Marketwired - June 30, 2014) - MONARQUES RESOURCES INC. (TSX VENTURE:MQR)(FRANKFURT:MR7)


NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN THE UNITED STATES.

MONARQUES RESOURCES INC. ("Monarques" or the "Corporation") (TSX VENTURE:MQR) (FRANKFURT:MR7) is pleased to announce that it has closed a non-brokered private placement for a total of 3,681,815 units (the "Units") of the Corporation, at a price of $0.11 per Unit, for total gross proceeds of $404,999.70 (the "Offering") with, among others, Capital croissance PME II s.e.c. ("CCPME"), SIDEX, société en commandite ("SIDEX") and the Abitibi-Témiscamingue Regional Solidarity Fund QFL ("Abitibi-Témiscamingue RSFQFL").

Each Unit subscribed for under the Offering consists of one common share, at a price of $0.11 per common share, and one warrant of the Corporation. Each warrant entitles its holder to purchase one common share in the share capital of Monarques, at a price of $0.14 per common share, within 24 months of the closing date of the Offering.

In connection with the Offering, CCPME, SIDEX and Abitibi-Témiscamingue RSFQFL (collectively, the "Institutional Investors") participated in the financing for an amount of $110,000.00, $50,000.00 and $99,999.90 respectively. The SIDEX financing was funded under the new "FIELD-ACTION 2014" program. Administrative, commitment and study fees were paid to the Institutional Investors for an aggregate amount of $7,029.45.

Monarques will use the net proceeds of the Offering for exploration expenditures on its properties and for working capital purposes.

All securities issued under the Offering will be subject to a hold period of four months and one day ending on October 31, 2014, in accordance with the applicable Canadian securities legislation. After giving effect to the Offering, the Corporation has 64,585,204 common shares issued and outstanding.

The securities issued under the Offering have not been registered under the United States Securities Act of 1933 (the "Act") or any state securities laws and, accordingly, may not be offered or sold to, except in compliance with exemptions from the registration requirements of the Act and applicable state securities laws. This press release does not constitute an offer to sell any securities or a solicitation of an offer to purchase any securities, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification of the securities under the securities laws or an exemption from the application of such laws.

ABOUT CCPME

Managed by Desjardins Venture Capital Inc., CCPME is capitalized in equal shares by the Caisse de dépôt et placement du Québec and Capital régional et coopératif Desjardins. The fund aims to support small businesses in carrying out expansion, R&D, business acquisition and productivity optimization projects.

ABOUT SIDEX

The mission of SIDEX (La Société d'investissement dans la diversification de l'exploration) is to invest in companies engaged in mineral exploration in Quebec in order to diversify Quebec's mineral base and open new territories to exploration and investment.

"FIELD-ACTION 2014" is a new $3-Million financing program recently launched by SIDEX to encourage junior mineral exploration companies to pursue field work in Quebec, hire young professionals, employ service companies, and make new discoveries in 2014.

ABOUT THE FONDS RÉGIONAUX DE SOLIDARITÉ FTQ

Integral part of the Solidarity Fund QFL network, the Fonds régionaux de solidarité FTQ have been actively participating in the economic development of the regions of Québec. As of today, the Fonds régionaux de solidarité FTQ's portfolio comprised of hundreds of small and mid-sized businesses and its total investments stood at $499 million.

ABOUT MONARQUES

Monarques is a junior gold exploration company currently focusing its efforts on the development of gold projects along the Cadillac Break, in the Val-d'Or area of Quebec. Monarques currently has nearly 200 km² of property holdings in the Val-d'Or area consisting of 600 claims, two mining concessions and one mining lease, with over $9.5 million in credits from the Ministère de l'Énergie et des Ressources naturelles.

Forward-looking Statements

The forward-looking statements contained in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarques' actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein.

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 press release.

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