Monumental Energy closes CAD$3.05 million private placement

Monumental Energy Corp. (TSX-V: MNRG; FSE: ZA6; OTCQB: MNMRF) completed a non-brokered private placement raising gross proceeds of CAD$3,053,662, the company announced.

The financing consisted of 33,929,583 units priced at CAD$0.09 per unit. Each unit includes one common share and one warrant exercisable at $0.15 per share for two years from the closing date.

The company paid $175,451 in cash commissions and issued 1,949,453 finder warrants with varying exercise prices and terms. Of these, 540,555 warrants are exercisable at $0.15 per share for two years, 754,398 at $0.15 per share for five years, and 654,500 warrants exercisable to acquire one unit at $0.09 per unit for two years.

Monumental plans to use proceeds to fund oil and gas workover projects with New Zealand Energy Corp. and L&M Energy, reserve funds for potential asset acquisitions and drilling new wells, develop technical capabilities, and general working capital purposes.

All securities are subject to a four-month hold period under Canadian securities laws and TSX Venture Exchange policies. The placement requires final exchange approval.

Separately, Monumental announced plans to reprice 4,371,923 warrants originally issued February 28, 2025, subject to exchange approval. The warrants were issued at $0.25 per share and the company seeks to reduce the exercise price to $0.175 per share. The warrants expire February 28, 2028, and none have been exercised.

Monumental Energy focuses on energy sector exploration and development, with operations in New Zealand's Taranaki Basin and exposure to lithium projects through royalty interests.

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