July 29, 2016 - Vancouver, BC -- Monster Mining Corp. (TSX-V: MAN; US OTC: MMNGF) is pleased to announce that it has closed its previously announced non-brokered private placement of 29,870,000 units priced at 5 cents per unit for total gross proceeds of $1,493,500.
Each unit shall consist of one common share of the issuer and one share purchase warrant. Each warrant will entitle the holder to acquire one common share of the Company at an exercise price of $0.10 per warrant share for a period of 36 months following the closing date of the private placement. In the event that the Issuer's common shares trade at a 20 day volume weighted average trading price of $0.15 or greater at any time after 4 months and one day after the closing date, the issuer may elect to accelerate the expiry date of the warrants by giving notice to the holders thereof and in such case the warrants would expire 30 days after the notice is given by the issuer.
The proceeds of the financing will be used toward the Company's two Yukon projects and for general working capital purposes. All Shares issued under the Private Placement are subject to a statutory four month hold period. The financing is subject to regulatory approval.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption from such registration is available.
About Monster Mining
Monster Mining owns the Keno Lightning Project located in the historical Keno Hill Silver District adjacent to Alexco Resource Corp. and the McKay Hill Project located adjacent to ATAC Resources' Rackla Gold Project, both in Canada's Yukon Territory.
ON BEHALF OF THE BOARD
Signed "Bill Harris"
William (Bill) Harris - Director
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