Monument Mining Ltd Announces Closing Of First Tranche Of Brokered Private Placement, Raising Gross Proceeds Of $15 Million

Monument Mining Ltd announced that it has closed the first tranche of its previously announced $80,000,000 brokered private placement (the Offering). Closing of subsequent tranches of the Offering will be subject to certain conditions, including the final approval of each tranche by the TSX Venture Exchange. In connection with the closing of the first tranche of the Offering, the Company issued 30,000,000 Common Shares at an issue price (Issue Price) of $0.50 per common share (the Common Shares), for gross proceeds of $15,000,000.The proceeds from the first tranche of the Offering shall be applied by Monument towards development of the Mengapur project and for general working capital.Monument engaged Mackie Research Capital Corporation ("MRCC") as lead agent and sole book-runner, and included Salman Partners Inc. ("Salman") (collectively, the "Agents"), to complete the Offering on a best-efforts basis. Pursuant to the engagement, the Company granted the Agents an option (the "Over-Allotment Option") to increase the size of the Offering by up to an additional 15% in the number of Common Shares.