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Montan Capital Corp. and Strait Minerals Inc. announce conditional approval from TSXV and the filing of information circular and technical report

26.01.2015  |  CNW
VANCOUVER, Jan. 26, 2015 /CNW/ - Montan Capital Corp. (TSXv: MO.P) ("Montan") and Strait Minerals Inc. (TSXv: SRD) ("Strait") are pleased to announce that, further to their joint news releases dated December 3, 2014 and January 6, 2014, Montan and Strait have received conditional acceptance from the TSX Venture Exchange (the "Exchange") for the proposed qualifying transaction (the "Transaction") of Montan, whereby Montan will amalgamate with 1023174 B.C. LTD. ("Newco"), a newly incorporated subsidiary of Strait, pursuant to the amalgamation agreement dated January 6, 2015, (the "Amalgamation Agreement") among Montan, Strait and Newco.

Montan and Strait have filed on SEDAR a joint information circular (the "Joint Circular") to obtain approval from their shareholders to the Amalgamation Agreement at shareholders' meetings to be held February 24, 2015. The Joint Circular provides detailed information about the Amalgamation Agreement and Transaction and was mailed to shareholders of Montan and Strait who were shareholders on January 19, 2015.

Montan and Strait have also filed on SEDAR a National Instrument 43-101 ("NI 43-101") compliant technical report with respect to Strait's Alicia Property, which is expected to be the resulting issuer's Principal Property (as defined in the policies of the Exchange) upon completion of the Transaction, entitled, "NI 43-101 Technical Report on the Alicia Copper Gold Project", written by James A. McCrea, P.Geo. and dated December 29, 2014 (the "Technical Report"). Mr. McCrea is a "qualified person" as defined in NI 43-101 and is independent of Montan and Strait. Excerpts from the Technical Report are included in the Joint Circular.

The continuing company will be named Montan Mining Corp. ("Montan Mining") and be focused on exploration and mine development in Peru. Montan Mining will be led by an experienced management and capital markets team with a track record of success in mine development in Peru (as well as other jurisdictions) and have a local Peruvian shareholder support base. Montan Mining will advance the Alicia Project for its high-grade copper potential and provide its shareholder with a platform to seek further opportunities in the Peruvian mining sector presented by the current malaise in the mining and resource market.

James A. McCrea has reviewed and approved the technical content of this press release as the qualified person for Strait and Montan.

Completion of the Transaction is subject to a number of conditions, including, but not limited to, Exchange acceptance.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

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 news release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements herein may contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Forward-looking statements or information appear in a number of places and can be identified by the use of words such as "plans", "expects", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information include statements regarding the Transaction and the resulting issuer's exploration plans and exploration results with respect to the Alicia Property. With respect to forward looking statements and information contained herein, we have made numerous assumptions, including assumptions about mineral prices, cut-off grades, metallurgical recoveries, operating and other costs and technical assumptions used in the estimate. Such forward-looking statements and information are subject to risks, uncertainties and other factors which may cause the resulting issuer's actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Such risks include discrepancies between actual and estimated mineral resources, subjectivity of estimating mineral resources and the reliance on available data and assumptions and judgments used in the interpretation of such data, speculative and uncertain nature of gold exploration, exploration costs, capital requirements and the ability to obtain financing, volatility of global and local economic climate, share price volatility, estimate commodity price volatility, changes in equity markets, increases in costs, exchange rate fluctuations and other risks involved in the mineral exploration industry. There can be no assurance that a forward-looking statement or information referenced herein will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Also, many of the factors are beyond the control of the resulting issuer. Accordingly, readers should not place undue reliance on forward-looking statements or information. We undertake no obligation to reissue or update any forward-looking statements or information except as required by law. All forward-looking statements and information herein are qualified by this cautionary statement.


Montan Capital Corp.
Ryan Fletcher, President, CEO and Director
Ph: 604.999.5603

Strait Minerals Inc.
Jim Borland, President, CEO and Director
Ph: 416.272.7387
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Strait Minerals Inc.

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