Mr. Max Sali reports
MONUMENTAL ENERGY GRANTS STOCK OPTIONS
Monumental Energy Corp. has granted incentive stock options to certain directors, officers and consultants of the company to purchase up to an aggregate 1.7 million common shares of the company at a price of 10 cents per common share for a period of three years from the date of grant, pursuant to the company's equity incentive plan. The options vest of the date of grant. All of the options (and any shares issuable upon exercise or settlement thereof) will be subject to a four-month-and-one-day hold period from the date of grant pursuant to the policies of the TSX Venture Exchange.
The company also announces that it has completed a non-brokered private placement of 515,700 units at a price of nine cents per unit for gross proceeds of $46,413. Each unit will consist of one common share of the company and one transferable common share purchase warrant. Each warrant will entitle the holder to acquire one additional common share of the company at a price of 15 cents per share for a period of two years from the closing date of the private placement.
The company intends to use the proceeds of the private placement for general working capital purposes and corporate expenses.
All securities issued pursuant to the private placement will be subject to a statutory hold period of four months and one day from the closing of the private placement. No finders' fees are payable in connection with the private placement. The private placement is subject to the approval of the TSX Venture Exchange.
About Monumental Energy Corp.
Monumental Energy is an exploration company focused on the acquisition, exploration and development of properties in the critical and clean energy sectors. The company is building a strategic position in New Zealand's onshore Taranaki basin, targeting near-term oil production and longer-term natural gas development.
The company has a financing agreement with New Zealand Energy Corp. targeting production optimization and workover opportunities across existing fields. The company also holds securities of New Zealand Energy and a call option and royalty interest related to the Copper Moki wells.
Monumental additionally maintains exposure to the critical minerals sector through a 2-per-cent net smelter return royalty on Summit Nanotech's interest in the Salar de Turi lithium project in Chile.
We seek Safe Harbor.
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