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Marvel Discovery Corp. — Capital/Financing Update 2020
Jun 23, 2020
43348_rns_2020-06-22_6f08091e-55cc-416a-9be8-7560e3d250f5.pdf
Capital/Financing Update
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Form 51-102F3 Material Change Report
Item 1: Name and Address of Company
International Montoro Resources Inc. (the "Company" or “Montoro”) #600-625 Howe Street Vancouver, BC V6C 2T6 (604) 683-6648
Item 2: Date of Material Change
June 19, 2020
Item 3: News Release
Issued June 19, 2020 and distributed through AccessWire.
Item 4: Summary of Material Change
International Montoro Resources Inc. announced that it will arrange a private placement of up to 4,600,000 units at a price of $0.035 for gross proceeds of $161,000. Each unit will be comprised of one common share and one transferable warrant. Each whole warrant will permit the holder to acquire one additional common share of the Company at a price of $0.05 for two years from closing. All securities will be subject to a four-month hold period from the closing date. Closing of the private placement is subject to final TSX Venture Exchange approval.
Item 5: Full Description of Material Change
International Montoro Resources Inc. announced that it will arrange a non brokered private placement (the “Financing”) of up to 4,600,000 units at a price of $0.035 for gross proceeds of $161,000. Each unit will be comprised of one common share in the capital of the Company and one transferable share purchase warrant (a “Warrant”). Each whole Warrant will permit the holder to acquire one additional common share of the Company at a price of $0.05 for two years from closing.
The Company intends to use the net proceeds from the Financing for exploration expenses, outstanding payable, including a portion of management fees payable, and working capital. While the Company intends to spend the net proceeds from the Financing as stated above, there may be circumstances, where, for sound business reasons, funds may be reallocated at the discretion of the Board.
Directors, officers or other insiders of the Company may participate in the Financing. The Company also confirms there is no material fact or materila change related to the Company which has not been generally disclosed.
The closing of the Private Placement, including the issuance of the securities, are subject to Exchange approval.
Item 6: Reliance on subsection 7.1(2) or (3) of National Instrument 51-102
This report is not being filed on a confidential basis.
Item 7: Omitted Information
There are no significant facts required to be disclosed herein which have been omitted.
Item 8: Executive Officer
Contact: Gary Musil, Director & CEO Telephone: (604) 683-6648
Item 9: Date of Report
June 19, 2020