Mundoro Capital Inc.
TSX VENTURE : MUN

Mundoro Capital Inc.

November 24, 2017 13:45 ET

Mundoro Capital Inc.: Private Placement Update

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 24, 2017) - Mundoro Capital Inc. (TSX VENTURE:MUN) (www.mundoro.com) ("Mundoro" or the "Company") has settled on adjusted terms for the private placement it announced September 29, 2017. Mundoro will now raise proceeds of approximately $1,317,589 through the issue of 9,759,917 units at a price of $0.135 per unit. Each unit consists of one common share and one-half of a share purchase warrant, with each full warrant exercisable to acquire a common share at a price of $0.20 for a term of two years.

The private placement, as revised, is subject to the approval of the TSX Venture Exchange. Closing of the private placement is expected to occur on November 30, 2017. Mundoro has agreed to pay cash finder's fees of approximately $83,380, representing 7% of the subscription price, in connection with the transaction. All securities issued in the private placement will be subject to a four month hold period, ending March 31, 2018 provided the closing occurs as scheduled.

Mundoro expects to use the gross proceeds towards project exploration, project acquisitions and corporate G&A.

About Mundoro Capital Inc.

Mundoro is a Canadian mineral exploration and development public company focused on building value for its shareholders through directly investing in mineral projects that have the ability to generate future returns for shareholders. The Company currently holds a diverse portfolio of projects in two European countries as well as an investment in a producing gold mine in Bulgaria and a feasibility stage gold project in China. The Company holds eight 100% owned projects in Serbia, the four Timok North Projects are in option to JOGMEC, and the four Timok South Projects are being advanced by Mundoro. Mundoro's common shares trade on the TSX Venture Exchange under the symbol "MUN".

Caution Concerning Forward-Looking Statements

This News Release contains forward-looking statements. Forward-looking statements can be identified by the use of forward-looking words such as "will", "would", "could", "expect", "intend", "plan", "estimate", "anticipate", "believe" or "continue" or similar words or the negative thereof. The material assumptions that were applied in making the forward looking statements in this News Release include the amount and timing for completion of the private placement. We caution readers of this News Release not to place undue reliance on forward looking statements contained in this News Release, as there can be no assurance that they will occur and they are subject to a number of uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include general economic and market conditions, exploration results, commodity prices, changes in law, regulatory processes, the status of Mundoro's assets and financial condition, actions of competitors and the ability to implement business strategies and pursue business opportunities. The forward-looking statements contained in this News Release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this News Release are made as of the date of this News Release and the Board undertakes no obligation to publicly update such forward-looking statements, except as required by law. Shareholders are cautioned that all forward-looking statements involve risks and uncertainties and for a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to the Company's filings with the Canadian securities regulators available on www.sedar.com.

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.

Contact Information

  • Teo Dechev
    CEO, President and Director
    Mundoro Capital Inc.
    +1-604-669-8055