Montana Exploration Corp. announces completion of private placement of convertible debentures

/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE DISTRIBUTION SERVICES/

CALGARY, July 23, 2014 /CNW/ - Montana Exploration Corp. ("Montana") (TSXV:MTZ) has closed the previously announced $3,250,000 private placement of convertible debentures with ANG Partners, Ltd. ("ANG"), an affiliate of James Collins, a control person and director of Montana, and Blue Sky Exploration Limited ("Blue Sky"), an affiliate of Julian McIntyre, a control person and director of Montana, pursuant to which Montana borrowed the principal amount of $2,000,000 from ANG and $1,250,000 from Blue Sky. The debentures have an interest rate of 12% per annum and, at any time before five years from the effective date of the debentures, the principal amount owing under the debentures may be converted into common shares in the capital of Montana (the "Shares") at a price of $0.25 per Share.

About Montana Exploration Corp.

Montana is a Canadian junior oil and gas exploration and production company focusing on the Shaunavon oil opportunities underlying its extensive land holdings in the state of Montana. In the United States the company operates through its wholly owned subsidiary, Montana Land & Exploration, Inc. Montana's common shares are listed on the TSX Venture Exchange under the trading symbol "MTZ". Additional information regarding Montana is available under Montana's profile at www.sedar.com or at Montana's website, www.montanaexplorationcorp.com.

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 RELEASE.

SOURCE Montana Exploration Corp.

For further information:

For further information on Montana and the debentures, please contact:

Montana Exploration Corp. 

Charles Selby
Chairman and Chief Executive Officer
Telephone: (403) 265-9091
Email: Info@altacanada.com

Kevin Donegan
Vice President Finance and Chief Financial Officer 
Telephone: (403) 265-9091
Email: Info@altacanada.com