Monument
Announces Closing of First Tranche of Brokered Private
Placement
Raising Gross Proceeds
of $15 Million
Monument
Mining Limited (TSX-V: MMY and FSE: D7Q1) ("Monument" or
the "Company")
is pleased to announce that it has closed the first tranche of its previously
announced $80,000,000 brokered private placement (the "Offering").
Closing of subsequent tranches of the Offering will be subject to certain
conditions, including the final approval of each tranche by the TSX Venture
Exchange.
In connection with the closing of the first tranche of the Offering, the
Company issued 30,000,000 Common Shares at an issue price (�Issue Price�) of
$0.50 per common share (the �Common
Shares�), for gross proceeds of $15,000,000.
The Offering, as a whole, is for up to 160,000,000 common shares of the Company
(the "Common
Shares") at the Issue Price, for aggregate gross proceeds
of up to $80,000,000. Monument engaged Mackie Research Capital Corporation
("MRCC")
as lead agent and sole book-runner, and included Salman
Partners Inc. (�Salman�)
(collectively, the "Agents"),
to complete the Offering on a best-efforts basis. Pursuant to the engagement,
the Company granted the Agents an option (the "Over-Allotment Option")
to increase the size of the Offering by up to an additional 15% in the number
of Common Shares.
In consideration for their services, the Agents will receive a cash commission
of 7.0% of the gross proceeds of the Offering, payable upon the closing of each
tranche. In addition, the Agents will receive non-transferable share purchase
options (the "Agents
Options") to purchase that number of Common Shares which
is equal to 7.0% of the total number of Common Shares sold pursuant to the
Offering, including any Common Shares sold pursuant to the exercise of the
Over-Allotment Option, for a period of 24 months after closing at the Issue
Price. The Agents Options are issuable upon the closing of each tranche.
In connection with the closing of the first tranche of the Offering, the
Company paid MRCC and Salman a total cash commission
of $1,050,000, and issued MRCC and Salman a total of
2,100,000 Agents Options.
The securities issued pursuant to the first tranche of the Offering are subject
to a statutory four month hold period expiring on June 13, 2013.
The proceeds from the first tranche of the Offering shall be applied by
Monument towards development of the Mengapur project
and for general working capital.
This press release shall not constitute an offer of securities for sale in the
United States. The securities referred to in this press release have not been,
nor will be, registered under the United States Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent registration
or an exemption from registration.
About Monument
Monument Mining Limited (TSX-V:MMY, FSE:D7Q1) is an established Canadian gold
producer that owns and operates the Selinsing Gold
Mine in Malaysia, with production cash costs among the lowest in the world. Its
experienced management team is committed to growth and is advancing several
exploration and development projects in Malaysia, including the advanced-stage Mengapur Polymetallic Project.
The Company employs 280 people in Malaysia and is committed to the highest
standards of environmental management, social responsibility, and health and
safety for its employees and neighboring communities.
Robert F. Baldock, President and CEO
Monument Mining Limited
Suite 910- 688 West Hastings Street
Vancouver B.C. Canada V6B 1P1