MONTREAL, July 27, 2016 /PRNewswire/ - MONARQUES GOLD CORPORATION ("Monarques" or the "Corporation") (TSX-V: MQR) (FRANKFURT: MR7) is pleased to report that as of July 19th, 2016, it had received a total of $1,057,578.28 from the exercise of warrants and options, in consideration of which it has issued 7,054,817 common shares to the warrant and option holders.
"The fact that these warrants were exercised reflects the confidence investors have in the Corporation's vision, which is to become Val-d'Or's next gold producer," said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. "It also means that we are in a stronger financial position, with more than $6 million in cash and $9 million in government credits. We can move ahead with exploration and development activities on our Croinor Gold, Simkar Gold and Regcourt Gold properties, as well as on our new acquisition, Beacon Gold."
ABOUT MONARQUES GOLD
Monarques Gold is a growing junior gold company focused on becoming the leading explorer and developer of gold properties in the Val-d'Or/Abitibi gold camp in Quebec, Canada. The Corporation currently has approximately 200 km² of gold exploration properties along the Cadillac Break, including its main asset the Croinor Gold mine, which has a great potential of becoming a producing mine. Monarques Gold is well financed and has over $9 million in credits from Quebec's Ministry of Energy and Natural Resources.
The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarques' actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Neither 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 press release.
SOURCE Monarques Gold Corporation