Monarca Minerals – Shares for Debt Transaction and Stock Option Grant

Monarca_28072020

Toronto, Ontario–(Newsfile Corp. – July 28, 2020) – Monarca Minerals, Inc. (TSXV: MMN) (“Monarca” or the “Company”), announces that it is proposing to settle an aggregate of approximately $380,600.00 owing to certain officers and directors, and service providers to the Company through the issuance of an aggregate of approximately 7,612,000 Common Shares of the Company at an implied issue price of C$0.05 per Common Share. The Company determined to satisfy the indebtedness with
common shares in order to preserve its cash for the development of its business

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