MONTREAL, June 29, 2021 (GLOBE NEWSWIRE) – MONARCH MINING COMPANY (“Monarch“or the”society“) (TSX: GBAR) (OTCQX: GBARF) is pleased to announce that it has closed its previously announced bought deal private placement for total gross proceeds of C $ 6,655,600 (the”Offer“). The offering has been completed pursuant to the terms of a bought deal agreement between the Company, Sprott Capital Partners LP and Stifel GMP, as co-lead managers and associate bookrunners (collectively, the “Subscribers“). The offering includes the exercise by the underwriters of their over-allotment option for additional gross proceeds of Cdn $ 655,600. The placement consisted of the issuance of 8,319,500 units of the Company (the “Units”) At a price of C $ 0.80 per unit.

Each unit consists of one ordinary share of the Company (a “Ordinary share“) and a half common share purchase warrant (each entire warrant, a”To guarantee“). Each warrant grants its holder the right to purchase one common share (a “Warrant share”) At an exercise price of CA $ 1.05 for a period of 24 months from the date of issue thereof.

The net proceeds of the Offering will be used for exploration expenses on the Company’s properties and for general and working capital purposes of the Company.

In consideration for the services provided by the Underwriters in connection with the Offering, the Underwriters received: (i) a cash commission equal to 6% of the gross proceeds of the Offering; and (ii) compensation options (the “Compensation mandates») Equal to 6% of the number of securities sold under the Offer. Each compensation certificate may be exercised to acquire one ordinary share of the Company (each, one “Part of the compensation option”) At a price of $ 0.87 per share with a compensation option until June 29, 2023.

All securities issued under this offering are subject to a restriction period of four months and one day, ending October 30, 2021, under applicable Canadian securities legislation. The offering remains subject to final approval by the Toronto Stock Exchange.

This press release does not constitute an offer to sell or the solicitation of an offer to buy and there will be no sale of securities in any state in which such an offer, solicitation or sale would be illegal. The securities offered have not been and will not be listed in the United States Securities Act of 1933, as amended (the “U.S. Securities Law“), and may not be offered or sold to, or on behalf of or for the benefit of, persons in the United States or persons in the United States (as defined in Regulation S under the US Securities Act) without registration or applicable exemption from the registration requirements of the United States Securities Act and applicable state securities laws.

About monarch
Monarch Mining Corporation (TSX: GBAR) is a fully integrated mining company with four advanced projects, including the former, fully licensed Beaufor mine which has produced over one million ounces of gold over the past 30 years. Other advanced assets include the Croinor Gold, McKenzie Break and Swanson properties, all located near the 750 tpd Beacon mill wholly owned and fully licensed by Monarch. Monarch owns 28,702 hectares (287 km2) mining assets in the prolific Abitibi mining camp which hosts 588,482 ounces of combined Measured and Indicated gold resources and 329,393 ounces of combined inferred resources.

Forward-looking statements
All statements, other than statements of historical fact, contained in this press release, including, but not limited to, those relating to the intended use of the proceeds of the offering, upon receipt of final approval from the Toronto Stock Exchange in connection with the Offering and generally, the “About Monarch” section above, which primarily describes the Company’s outlook, constitutes “forward-looking information” or “forward-looking statements” within the meaning of Canadian laws. applicable securities, and are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based on a number of estimates and assumptions which, although considered reasonable by the Company at the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be inaccurate. Many of these uncertainties and contingencies can directly or indirectly affect, and could cause actual results to differ materially from those expressed or implied in forward-looking statements, and future events could differ materially from those anticipated in such statements. A description of the assumptions used in developing such forward-looking information and a description of the risk factors that could cause actual results to differ materially from forward-looking information can be found in Monarch’s disclosure documents on the SEDAR website at address

By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and there are risks that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect. not the future experience. Forward-looking statements are provided for the purpose of providing information about management’s efforts to develop the Company’s mineral properties and, more generally, its expectations and plans for the future. Readers are cautioned not to place undue reliance on these forward-looking statements, as a number of important risk factors and future events could cause actual results to differ materially from beliefs, plans, objectives, expectations, expectations, estimates, assumptions and expressed intentions. in these forward-looking statements. All forward-looking statements contained in this press release are qualified by these cautionary statements and those contained in our other documents filed with securities regulatory authorities in Canada. The Company disclaims any intention or obligation to update or revise any forward-looking statement or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.


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