Montero to hold Special Meeting of Shareholders to approve C$15 million Distribution
TORONTO, June 02, 2025 (GLOBE NEWSWIRE) -- Montero Mining and Exploration Ltd. (TSX-V: MON) (OTCPK: MXTRF) ('Montero' or the 'Company') reminds shareholders that a Special Meeting of Shareholders (the 'Meeting') will be held at 9:30am EDT on Wednesday, June 11, 2025, at the offices of Peterson McVicar LLP at 110 Yonge Street, Suite 1601, Toronto, Ontario, Canada.
Shareholders will vote on a proposed approximately C$15 million distribution, on a pro rata basis, through a reduction in stated capital (the 'Distribution'). These funds represent part of the net proceeds from the Company's US$27 million settlement with the United Republic of Tanzania, which resolved the dispute over the expropriation of the Wigu Hill rare earth element project.
The Company's management information circular dated May 7, 2025 (the 'Circular') outlines the details of the proposed Distribution. Shareholders are encouraged to vote in advance of the Meeting. To guarantee a vote is recorded, kindly submit the proxy by 9.30 am EDT on Monday, June 9, 2025, in accordance with the instructions provided in the proxy form.
The Circular, form of proxy and related meeting materials can be accessed on Montero's issuer profile on SEDAR+ at www.sedarplus.com as well as Montero's website www.monteromining.com.
About MonteroMontero Mining and Exploration Ltd. is a Canadian exploration company with a focus on mineral development in emerging markets. The Company recently concluded a US$27 million settlement with the Government of Tanzania, bringing closure to the dispute over the expropriated Wigu Hill rare earth project.
Montero holds the Avispa copper-molybdenum project in northern Chile and is currently advancing the project through exploration. The Company's board and management have a strong track record in discovering and developing precious metal and base metal projects.
Montero is listed on the TSX Venture Exchange under the symbol MON and has 8,353,833 Common Shares and 741,667 stock options outstanding.
Montero Mining and Exploration Ltd. Dr. Tony Harwood, President, and Chief Executive OfficerE-mail: ir@monteromining.com Tel: +1 604 428 7050www.monteromining.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
All figures are in Canadian dollars unless otherwise noted.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking information" within the meaning of applicable Canadian securities laws. Generally, forward-looking information can be identified by the use of forward-looking terminology such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur' or 'be achieved'. Such information is based on information currently available to Montero and Montero provides no assurance that actual results will meet management's expectations. Forward-looking information by its very nature involves inherent risks and uncertainties that may cause the actual results, level of activity, performance, or achievements of Montero to be materially different from those expressed or implied by such forward-looking information. Actual results relating to, among other things, the Corporation's deployment of capital, business prospects, strategies, regulatory developments, future commodity prices, exchange rates, satisfactory arrangements for the payment of legal expenses, the ability of the Company to find suitable exploration projects, results of exploration, project development, reclamation and capital costs of Montero's mineral properties, and financial condition and prospects, all of which could differ materially from those currently anticipated in such statements for many reasons such as: the inability to receive shareholder approval for the Distribution; changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with Montero's activities; and other matters discussed in this news release and in filings made with securities regulators. This list is not exhaustive of the factors that may affect any of Montero's forward-looking statements. These and other factors should be considered carefully and accordingly, readers should not place undue reliance on forward-looking information. Montero does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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