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MarketScreener Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Monto Minerals Ltd       AU000000MOO0

MONTO MINERALS LTD
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Monto Minerals : Exercises Right to Acquire ShareRoot

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10/28/2015 | 02:40am EST

Microsoft Word - MOO_ASX_Payment SH.docx



Level 1

ASX: MOO

33 Ord Street Tel: + 61 8 9200 2259

West Perth 6005 WA Fax: + 61 8 9481 9399


30 September 2015


Monto exercises right to acquire ShareRoot


Monto Minerals Ltd (ASX: MOO or Monto) is pleased to announce that it has exercised its right to acquire 100% of the issued capital of user-generated content (UGC) marketing platform company ShareRoot Inc (ShareRoot).


Pursuant to the executed Heads of Agreement (HoA), Monto has made a final payment of AUD$200,000 to ShareRoot in order to exercise its right to acquire the company.


Monto and ShareRoot are currently finalising a detailed Agreement and Plan of Merger in order to facilitate the transaction.


Monto is preparing a Notice of Meeting for its shareholders to consider the acquisition of ShareRoot, approval for a capital raising and appointment of Directors which is all part of the change in Monto's activities from a mineral exploration company to a UGC marketing company. The shareholder meeting forms part of the re-compliance by Monto with Chapters 1 and 2 of the ASX Listing Rules.


ShareRoot Transaction Background


Monto Minerals signed an option agreement in June 2015 to acquire 100% of revolutionary US- based UGC marketing platform company ShareRoot. Monto has now exercised its right to acquire 100% of ShareRoot.


ShareRoot's innovative Software as a Service (SaaS) platform allows businesses to easily source high quality social media-derived UGC to be used in marketing initiatives and to increase brand awareness.


ShareRoot is an early mover in this expanding industry, servicing more than 82 clients on the books to date.


1

| PO Box 637 West Perth WA 6872 | www.montominerals.com|


ASX Announcement






For and on behalf of the Board


Contact Information:

James Allchurch - +61 8 9200 2259 www.montominerals.com


2

| PO Box 637 West Perth WA 6872 | www.montominerals.com|

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