Vancouver, BC - Monster Mining Corp. (the "Company") announces that it is no longer pursuing the private placement financing previously announced on June 17 and has arranged to complete a larger, non-brokered private placement of up to 30 million units priced at 5 cents per unit for total gross proceeds of up to $1.5 million.
Each unit shall consist of one common share of the Company 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 Company'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 securities issued pursuant to the placement will be subject to a hold period of four months and one day from the date of closing. The financing is subject to regulatory approval.
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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