Mineral Mountain Resources : $200,000 NON-BROKERED PRIVATE PLACEMENT EXTENDED

2016 $200,000 NON-BROKERED PRIVATE PLACEMENT EXTENDED

By xplorationidea2016-02-01February 14th, 2020No Comments

Home » $200,000 NON-BROKERED PRIVATE PLACEMENT EXTENDED

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES

(Vancouver, February 1, 2016): Mineral Mountain Resources Ltd. ("Mineral Mountain" or the "Company") (TSXV: "MMV") (OTCPink: "MNRLF") announces that further to its news release issued on December 14, 2015, the Company has extended its closing date of the previously announced private placement of up to 10 million units of the Company to be sold at a price of C$0.02 per Unit to raise gross proceeds of up to C$200,000, subject to the approval of the TSX Venture Exchange. Each Unit consists of one common share of the Company and one common share purchase warrant (a "Warrant"), with each Warrant entitling the holder to purchase one common share of the Company for a period of 36 months from closing at an exercise price of C$0.05 per share.

The Company advises that the Private Placement is available to all interested investors provided that a prospectus exemption is available for the Company to issue Units to such investors. The Company advises that an additional prospectus exemption is available pursuant to British Columbia Instrument 45-534 (and in similar instruments in other provinces of Canada) (the "Existing Shareholder Exemption") that would allow Mineral Mountain shareholders who, as of the close of business on December 9, 2015, held common shares of the Company and continue to hold common shares at the time of closing, to subscribe for Units. Unless such shareholder is a person that has obtained advice regarding the suitability of the investment and, if such shareholder is resident in a jurisdiction of Canada, that advice has been obtained from a person that is registered as an investment dealer in such jurisdiction, the aggregate subscription cost to such shareholder for the Units subscribed under the Existing Shareholder Exemption cannot exceed C$15,000 (750,000 Units).

If the aggregate subscriptions for Units exceed the maximum number of Units proposed to be distributed, subscriptions will be accepted on a first-come, first-served basis such that it is possible that a subscription received from a shareholder may not be accepted by the Company. Completion of the Private Placement is subject to TSX Venture Exchange approval. There is no minimum offering size for the Private Placement.

The funds raised from the issuance of the Units will be used principally to fund the Company's ongoing working capital requirements and for G&A purposes.

On Behalf of the Board of Directors
MINERAL MOUNTAIN RESOURCES LTD.

"Nelson W. Baker", President and CEO

For further information, please contact:

Brad Baker, Vice-President Corporate Development & Director
[phone]
[e-mail]
Or visit our website: www.mineralmtn.com

Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This release includes certain statements that may be deemed to be "forward-looking information" under Canadian securities laws. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, constitute forward looking-information. Forward looking information consists of statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking information are based on reasonable assumptions, such information does not constitute guarantees of future performance and actual results may differ materially from those in forward-looking information. Factors that cause the actual results to differ materially from those in forward-looking information include gold prices, results of exploration and development activities, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, continued availability of capital and financing and general economic, market or business conditions. The Company cautions the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the Company's forward-looking information should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. The Company believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct. Please see the public filings of the Company at www.sedar.com for further information.

• Previous PostMINERAL MOUNTAIN ANNOUNCES CLOSING OF PRIVATE PLACEMENT
• Next Post$200,000 NON-BROKERED PRIVATE PLACEMENT