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Montego Resources Commences Trading on the Canadian Securities Exchange - Video News Alert on InvestmentPitch.com
February 19, 2015 11:20 AM EST | Source: InvestmentPitch Media
Vancouver, British Columbia--(Newsfile Corp. - February 19, 2015) - Montego Resources (CSE: MY) is one of the latest new listings on the Canadian Securities Exchange. The company completed an IPO offering of 4.5 million shares at $0.10, as well as an over-allotment of 600,000 shares, for gross proceeds of $510,000, with Canaccord Genuity acting as agent for the offering.
InvestmentPitch.com has produced a "video news alert" which provides a brief overview of the company. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Montego" in the search box.
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The company holds an option to acquire a 100% undivided interest in the Red Top - Sunrise Property, which consists of 5 different mineral occurrences - Red Top, Snow, Sunrise, Morrison and Bearsden, located approximately 20 kilometers east of Clearwater and 112 kilometres north of the city of Kamloops, British Columbia. The property consists of 12 contiguous mineral tenures and covers approximately 2,200 hectares.
Previous exploration has located several massive sulphide showings over a strike length of 3.6 kilometres.
Sampling by the current and previous operators has returned assay values from surface trenches that grade in excess of 30% zinc. Moderately high lead and silver values have also been returned.
In order to earn its interest, Montego is required to complete $100,000 in cash payments, issue 175,000 shares, and incur $1 million in exploration expenditures over a 4 year period. The company anticipates spending approximately $86,000 on an initial work program during the first year.
The company has 6.5 million shares outstanding. For more information, please contact Robert Coltura, President & CEO, at 604-683-8610.
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