Monument Engages CHF in Investor Relations and Updates $12 Million Financing Vancouver, B.C. - Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) (“the Company”, or “Monument”) announces its new affiliation with CHF Investor Relations (Cavalcanti Hume Funfer Inc., “CHF”), headquartered in Toronto, for investor relations services. CHF is well known for its work in the resources sector and has been under the same management for more than seventeen years. The CEO and President Robert Baldock commented, “Collaborating with CHF will be invaluable to the Company as Monument develops into a junior gold producer at the Selinsing Gold Project. The Company intends to advance exploration at Buffalo Reef Project and to increase our land position in Malaysia. We are confident that CHF will introduce our story to a broader Canadian audience in the financial and investment communities.” Subject to acceptance by the TSX Venture Exchange, under the terms of the agreement, CHF will provide investor relations (“IR”) and market-making services to Monument effective immediately for a fixed term of twelve months. In the absence of written termination notice by either party effective May 14, 2011, IR services shall continue thereafter on an open-ended basis and may be terminated by either party with a three-month advanced written notice. Monument will compensate CHF C$7,500 monthly, as well as applicable disbursements. As a part of this agreement 1,600,000 incentive stock purchase options will be granted to CHF exercisable at $0.30 per share for a period of three (3) years vesting 400,000 in six months from the grant date and 300,000 every six month thereafter; of which 475,000 will be subject to shareholders’ approval at the next Monument Annual General Meeting. Prior to the grant of stock options described above, CHF had no interest, directly or indirectly, in the Company or its securities. Monument intends to engage CHF’s Market Liquidity Program as soon as practical. Such activities will be undertaken out of CHF’s Calgary office through a registered broker in compliance with the guidelines established by the TSX Venture Exchange Policy 3.4 and other relevant policies. Other Developments The Company is diligently working towards closing the $12 million financing transaction announced in December 21, 2009 on terms as originally released to the market. The process has lasted much longer than anticipated due to lengthy due diligence. It is anticipated the financing will be completed before the end of June 2010. These funds will enable the Company to proceed with doubling the capacity of the gold treatment plant, close its land acquisition program and re-commence exploration on its prospective exploration areas. About CHF Investor Relations
CHF's effective role is acting as the public company's outsourced, low-cost equivalent to an internal investor relations department. CHF serves an international portfolio of TSX and TSX Venture listed companies, and others that may seek to list on North American Exchanges, that operate in a broad range of industries including mining exploration and producers, oil & gas, high-tech, industrial and business solutions and products, and "green" companies. The depth of capital market experience at CHF is formidable dating back to the late 1970's. CHF's head office is in Toronto with another Canadian office in Calgary as well as branch offices in New York, USA; São Paulo, Brazil; and Shanghai, China. About Monument Mining Limited
Monument Mining is a Canadian mineral explorater and is a publicly traded company on the TSX Venture Exchange (TSX-V: MMY). The Company has two wholly-owned principal properties: Selinsing Gold Mine Project ("Selinsing"); and Damar Buffalo Reef Prospect ("Buffalo Reef"); which are located in Pahang State in the Central Gold Belt District of Malaysia. Monument Mining Limited’s head office is in Vancouver, British Columbia, Canada. The Selinsing project recently commissioned the Phase I gravity section of its gold processing plant and has since commissioning, commenced in late 2009 produced more than 10,000 ounces of gold to May 31, 2010. Commissioning of the remaining Phase II CIL section of the plant is expected by end of June or early July 2010, followed shortly thereafter by an expected announcement of reaching commercial production. The Company has the objective, once fully commissioned, to produce up to 40,000 ounces of gold per year, with intention to increase that by expansion of the treatment plant in Phase III which will more than double the plant capacity. |
Thread abonnieren
