Mackie led PP $80 Million CANCELLED

February 07, 2013 17:23 ET

GoldMet B.V. and Monument Mining Limited to Put an End to Their Dispute



VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 7, 2013) - GoldMet B.V. ("GoldMet") is pleased to announce that it has resolved its dispute with Monument Mining Limited (TSX VENTURE:MMY) ("Monument") regarding financial and strategic matters.

Pursuant to this:

  • GoldMet, the largest shareholder of Monument, has agreed to withdraw the concerns that they had previously expressed.
  • GoldMet will support Monument's intention to pursue the reinforcement of its presence in Malaysia, satisfying Monument's commitments to the government across a range of community and social responsibility initiatives.
  • GoldMet will support Monument's management and Monument's progress in the development of the Mengapur Gold Project, the extension of the gold deposits portfolio and is confident in the future of Monument.
  • Monument has cancelled the previously contemplated $80 million brokered private placement led by Mackie Research Capital Corporation, and, with the support of GoldMet, will pursue other options to satisfy its planned capital expenditure requirements. Both companies will work jointly in relation to such options.