Montero Mining and Exploration Ltd (TSX-V:MON) told investors it has closed its previously announced non-brokered private placement of 5,332,997 common shares at $0.15 each for gross proceeds of $799,949.55.
The company said it intends to use the net proceeds for general corporate and working capital purposes.
“We are pleased to have completed Montero’s private placement and are delighted to welcome Mr Jeremy Raper as a new strategic shareholder,” Montero president and CEO Dr Tony Harwood commented in a statement.