Monitor Ventures Inc. - Update
Vancouver, British Columbia--(Newsfile Corp. - October 4, 2018) - MONITOR VENTURES INC. ("Monitor" or the "Company") (NEX: MVI.H) has disposed of its wholly-owned U.S. subsidiary. For further information about the Company's financial position, please refer to the Company's quarterly financial statements dated June 30, 2018 filed on Sedar at www.sedar.com
The Company has been able to reduce some of its accounts payable and accrued liabilities through debt forgiveness and other alternative arrangements and is seeking further reductions. However, the Company will require additional financing to fund its on-going costs and working capital deficiency. As previously announced, the Company reports that it has extinguished an outstanding account payable to an arms-length party by issuing 160,000 common shares of the Company.
About Monitor Ventures Inc.
Monitor Ventures Inc. (previously named American Vanadium Corp.) is a publicly traded venture company seeking a new business venture that has significant growth potential, dynamic drivers and an engaging story.
The entrepreneurial team leading Monitor Ventures has a wide range of experience growing companies in a variety of companies, from mining to high tech to biomedical to clean tech to growth.
Monitor Ventures Inc. trades on the NEX under the symbol "MVI.H".
ON BEHALF OF THE BOARD
Bill Radvak, President and CEO
For further information, please contact:
Bill Radvak, President & CEO
(778) 888 4101
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY HEREIN.