TORONTO, Jan. 14, 2019 (GLOBE NEWSWIRE) -- Monterey Minerals Inc. (the “Company”) is pleased to announce that, further to its earlier announcement regarding management changes dated August 14, 2018, it has completed a definitive Share Purchase Agreement with Landsdown Holdings Ltd. (“Landsdown”) and the shareholders of Landsdown (the “Purchase Agreement”). Pursuant to the Purchase Agreement, all of the shareholders of Landsdown transferred all of their issued and outstanding common shares in Landsdown, namely 14,438,578 common shares, to the Company, in exchange for 14,438,578 common shares of the Company, at a per share price of $0.07, effectively constituting a reverse acquisition transaction of Monterey by Landsdown.
The Transaction was completed on July 26, 2018, with Landsdown shareholders holding 70.94% of the shares of the Company outstanding.
About Landsdown Holdings Ltd.
Landsdown is a private company, duly incorporated, organized and validly subsisting under the laws of the Province of British Columbia. It was incorporated on August 9, 2015 and is engaged in the mining and exploration industry.
About Monterey Minerals Inc.
The Company has an option on the Cobalt Mountain Copper Cobalt Property (the “Property”) in the Omincea Mining Division of British Columbia near the town of Smithers. The Company’s business objective is to explore for copper-gold and to seek new properties that will continue to increase shareholder value.
For more information, contact investor relations at info@montereyminerals.com
On Behalf of the Board of Directors,
James Macintosh
President and CEO
Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release.
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.