International Montoro Applies for Waiver to Private Placement Pricing

International Montoro Resources Inc. (TSXV:IMT) announced the Company will be making an application to the TSX Venture Exchange for a waiver to the private placement price as the proposed subscription price is below the minimum allowed pursuant to the rules.
As quoted in the press release:

The Company proposed to proceed with a working capital financing of up to $375,000 with 12.5 million units to be issued at $0.03.  Each unit will comprise of one share and one share purchase warrant.  Each whole warrant will permit the holder to acquire one additional share at a price of $0.06 in the first year and at $0.10 in the second year after closing.
The proceeds of the financing will primarily be used to maintain the Company’s existing operations (ie. Serpent River-Ontario property & Chuchinka/Tacheeda claims-British Columbia), activities and assets.  Approximately $225,000 will be expended on additional liabilities incurred during the 2015 exploration/drilling program on Serpent River.  The balance of $150,000 working capital will be required as follows:  Professional fees (legal, audit and accounting) – $20,500; Transfer Agent fees – $3,500; Regulatory filing and sustaining fees – $9,500; Investor and Shareholder Relations including travel & advertising – $25,000; Loan & Interest repayment -$70,000; unallocated $21,500.

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