|April 27, 2012|
Monster Cancels Private Placement; Amends Outstanding Warrants
|Vancouver, British Columbia... Monster Mining announces that due to current market conditions, it has cancelled its non-brokered private placement of up to 8,000,000 units at a price of $0.30 per Unit, for gross proceeds of up to $2,400,000 as announced on February 7, 2012.|
The Company currently has 2,500,000 outstanding warrants that were attached to units which were distributed pursuant to the Company's Initial Public Offering in May 2011. The Company intends to make application to the TSX Venture Exchange to amend the terms of the outstanding warrants. The Company proposes to amend the exercise price of the warrants from the current exercise price of $0.65 to $0.30 and will also apply to extend the expiry date by one year to May 18, 2013.
No insiders hold any of the outstanding warrants.
ON BEHALF OF THE BOARD
Signed "Robert Eadie"
President, President, Chief Executive Officer and Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Contact: Robert Eadie
Neither the 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.
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