TORONTO, April 16, 2025 (GLOBE NEWSWIRE) — Montero Mining and Exploration Ltd. (TSX-V: MON) (OTCPK: MXTRF) (“Montero” or the “Company”) announces that it has finalized its planned uses of the net proceeds received from its settlement with the United Republic of Tanzania to resolve the dispute over the expropriation of its Wigu Hill rare earth element project (the “Settlement”).
Montero hereby provides notice that it intends to complete a consolidation (the “Consolidation”) of its common shares (the “Common Shares”) on the basis of six (6) pre-Consolidation Common Shares for one (1) post-Consolidation Common Share. As of the date hereof, there are 50,122,975 Common Shares issued and outstanding. It is expected that the Common Shares reflecting the Consolidation will commence trading on the TSXV on or around May 5, 2025. On a post-Consolidation basis, the Company shall have approximately 8,353,829 Common Shares…
