International Montoro Resources Receives Drill Rig and is Set to Commence Drilling
International Montoro Resources Inc. (TSXV:IMT) announced that Orbit Garant Drilling Services Inc. arrived Thursday at the Elliot Lake airport. Now the transportation of the drill rig and materials via helicopter to the Pecors Anomaly drill site is underway and setup to begin drilling should be completed by Saturday.
As quoted in the press release:
The Company is continuing to receive subscriptions for a 2nd tranche of the private placement for additional funds for the Pecors drilling program and working capital.
Each unit consists of one common share at a price of $0.07 and one two year transferable share purchase warrant (“Warrant”). Each whole Warrant will entitle the holder to acquire one Common share at an exercise price of $0.10 for a period of 12 months from closing and at $0.14 in the second year. The Company will pay a finder’s fee of up to 7.5% in cash or warrants. All of the securities issued pursuant to the private placement will be subject to a minimum four-month hold period and subject to TSX Venture Exchange acceptance.
Watch: Drills on the move at Pecors anomaly: