Monumental Energy aims for up to $750,000 in financing

Executive Summary

• Monumental Energy Corp. announced a non-brokered private placement of between 10 million and 15 million units at $0.05 per unit, raising gross proceeds of $500,000 to $750,000.
• Each unit consists of one common share and one transferable warrant exercisable at $0.08 per share for three years.
• Net proceeds will fund workover projects with New Zealand Energy Corp. and L&M Energy, expenses at the Copper Moki-1 well, and general working capital.

Key Details

• Transaction Structure: Non-brokered private placement.
• Units Offered: Minimum 10,000,000 units; Maximum 15,000,000 units.
• Price: $0.05 per unit.
• Gross Proceeds: Minimum $500,000; Maximum $750,000.
• Warrant Terms: Each unit includes one transferable common share purchase warrant.
  • Exercise Price: $0.08 per share.
  • Term: Three years from the closing date.
  • Ratio: One warrant per unit (entitling holder to acquire one additional common share).
• Use of Proceeds:
  • Financing costs and expenses to formally enter into and fund additional workover projects with New Zealand Energy Corp. and L&M Energy.
  • Additional expenses at Copper Moki-1.
  • General working capital and corporate expenses.
• Regulatory Conditions: Subject to approval of the TSX Venture Exchange.
• Hold Period: All securities subject to a statutory hold period of four months and one day from closing.
• Fees: Finders' fees may be payable in accordance with TSX Venture Exchange policies and applicable securities laws.

Notable Quotes

• None provided in the text.