AMSTERDAM, NETHERLANDS--(Marketwire - July 12, 2012) - GoldMet B.V. ("GoldMet"), announces that on July 12, 2012, it acquired ownership of 24,112,500 common share purchase warrants (the "Warrants") of Monument Mining Limited ("Monument") (the "GoldMet Warrant Transaction"). The common shares of Monument are listed on the TSX Venture Exchange under the symbol "MMY". Each Warrant entitles the holder to acquire one common share of Monument (a "Monument Share") at a price of CAD$0.50 until July 21, 2012. The exercise of all of such Warrants by GoldMet would result in Monument receiving aggregate consideration of CAD$12,056,250 from GoldMet, and GoldMet owning approximately 11.6% of the issued and outstanding common shares of Monument, as of March 31, 2012, calculated on a partially-diluted basis, assuming the exercise of the Warrants but not all outstanding convertible securities of Monument. The Warrants were acquired from a controlling shareholder of GoldMet (the "Major Shareholder") in a private transaction for aggregate consideration of CAD$1,929,000. The Major Shareholder had acquired the Warrants earlier on July 12, 2012 from three warrantholders pursuant to private warrant purchase agreements between the Major Shareholder and such warrantholders (the "Initial Warrant Transaction"). The price paid by the Major Shareholder to acquire each Warrant pursuant to the Initial Warrant Transaction was identical to the price paid by GoldMet to acquire each Warrant pursuant to the GoldMet Warrant Transaction.
The Warrants were acquired by GoldMet for investment purposes. GoldMet expects to (i) acquire an additional 30,000,000 Monument Shares in a private transaction from a single holder of Monument Shares (the "Subsequent Share Purchase"), and (ii) exercise the Warrants, in each case, on or prior to July 21, 2012, and may acquire additional Monument Shares, before or after such date. Assuming the exercise by GoldMet of all of the Warrants, and the completion of the Subsequent Share Purchase for the full 30,000,000 Monument Shares, GoldMet will own 54,112,500 Monument Shares, representing approximately 26.0% of the issued and outstanding Monument Shares, based on the number of Monument Shares issued and outstanding as at March 31, 2012. From time to time, GoldMet may dispose of some or all of the securities it holds or will hold, or may continue to hold its current position depending on the business and prospects of Monument and GoldMet itself, as well as future market conditions.
About GoldMet B.V.
GoldMet B.V. is a private company with limited liability incorporated under the laws of the Netherlands. GoldMet's address is: Lairessestraat 154, 1075 HL Amsterdam, The Netherlands, Attention: George Molyviatis, E-mail: email@example.com.