Montana Exploration Corp. (TSXV:MTZ) announced a private placement of debentures for gross proceeds of CAD 3,250,000 on January 29, 2014. The debentures will bear an interest of 12% per annum. The principal amount is convertible into shares of the company at a price of CAD 0.25 per share. The debentures will mature in five years. The transaction will involve participation from existing investor, Ang Partners Ltd. for CAD 2,000,000 and Blue Sky Exploration Limited for CAD 1,250,000. Pursuant to transaction, Blue Sky Exploration Limited will hold 19.7% stake in the company. The transaction is subject to the TSX Venture Exchange approval.

If the previously announced arrangement between Montana and Waldron is completed and the concurrent transaction of ANG and Blue Sky for shares at a price of CAD 0.25 per share is completed, then the debentures will be cancelled and no interest will be payable, and the principal amounts owing under the debentures will represent an advance on the subscription amounts owing from ANG and Blue Sky pursuant to the transaction of shares.

On July 23, 2014, Montana Exploration Corp. closed the transaction. The company announced that the TSX Venture Exchange has accepted for filing documentation with respect to the transaction. The round included 2 placees in the transaction.