VANCOUVER, Feb. 21, 2013 /CNW/ - GoldMet B.V. ("GoldMet") is pleased to
announce that following productive discussions with management
representatives from Monument Mining Limited ("Monument") it will give
its full support to Monument management and the current board of
directors at the upcoming Annual General Meeting of shareholders.
GoldMet and its related parties have agreed to deliver a voting trust
over their shares in favour of Monument's management in respect of
shareholders' meeting for the next 12 months. GoldMet also agrees that
the planned development of Monument's Mengapur Project is in the best
interests of Monument's shareholders, and looks forward to working with
management of Monument to ensure the continued development of
Monument's assets is in the best interests of all shareholders.
With GoldMet's support, Monument has also agreed to reduce the CAD$80
million private placement financing announced on December 17, 2012 such
that Monument will not issue more than 52,000,000 additional common
shares pursuant to that financing. Monument has also agreed not to
pursue any new private placement financings during the next twelve
months without the consent of GoldMet. GoldMet will support Monument's
plans to pursue other options to satisfy its capital expenditures
requirements to advance the phased development of Monument's 100
percent owned Mengapur polymetallic project, including seeking a
listing on the Bursa Malaysia Berhad, Malaysia's stock exchange.
Monument has also agreed that GoldMet may name a candidate for the board
of directors of Monument, subject to approval of the nominee by
Monument. GoldMet has chosen Jean Edgar Trentinian, who is already a
director of Monument, as its nominee director until further notice.
Cautionary Note Regarding Forward Looking Statements
Certain statements contained herein are "forward looking statements"
within the meaning of applicable securities laws. Often, but not
always, forward-looking statements may be identified by their use of
forward-looking terminology such as the words "plans", "expects",
"expected", "projects", "believes", "anticipates", "intends",
"estimates", "scheduled" or other similar 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 are not based on historical facts, but
rather on current expectations and projections about future events, and
are therefore subject to known and unknown risks, uncertainties and
other factors which could cause actual results, performances or
achievements to differ materially from future results expressed or
implied by such forward looking statements. Factors related to such
risks and uncertainties, and underlying estimates and assumptions
include, among others, the Concerned Shareholder's assessment of the
effect of the proposed changes on the Company and on the shareholders
of the Company, the timing and prospects for the implementation
thereof, general economic and market conditions, changes in law and the
ability to implement business strategies and pursue business
opportunities. Shareholders are cautioned that all forward-looking
statements involve risks and uncertainties, including those risks and
uncertainties detailed in the Company's filings with applicable
Canadian securities commissions, copies of which are available at www.sedar.com. Accordingly, undue reliance should not be placed on forward looking
statements or information. We do not expect to update forward-looking
statements or information continually as conditions change, except as
may be required by law.
"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 release."
SOURCE: GoldMet B.V.
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