Monumental Energy announces private placement to raise up to $750,000

Monumental Energy Corp. (TSX-V: MNRG) announced plans to complete a non-brokered private placement offering between 10 million and 15 million units at $0.05 per unit, targeting gross proceeds of $500,000 to $750,000.

Each unit consists of one common share and one warrant. The warrants allow holders to purchase additional common shares at $0.08 per share for three years from the closing date.

The company stated it intends to use net proceeds to fund workover projects with New Zealand Energy Corp. and L&M Energy, cover expenses at Copper Moki-1, and support general working capital and corporate expenses.

All securities issued will be subject to a four-month and one-day statutory hold period from closing. The private placement requires approval from the TSX Venture Exchange.

Monumental Energy focuses on exploration and development in the critical and clean energy sector, as well as oil and gas investments. The company holds securities in New Zealand Energy Corp. and has a call option and royalty agreement on Copper Moki wells. It also maintains an option to acquire a 75% interest in the Laguna cesium-lithium brine project in Chile and holds a 2% net smelter return royalty on Summit Nanotech's share of future lithium production from the Salar de Turi Project.

The information is based on a company press release statement.

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