James W. Collins Files Early Warning Report
December 16 2013 - 1:49PM
Marketwired Canada
James W. Collins of 900 East Lakeview Drive McAllen, Texas (the "Offeror")
acquired through Rioco Partners, Ltd. ("Rioco"), beneficial ownership and
control of 1,333,333 common shares ("Common Shares") of Montana Exploration
Corp. ("Montana") pursuant to an extension and amending agreement wherein Rioco
extended the availability of the principal amount of $1,000,000 owed by Montana
to Rioco to November 1, 2014 (the "Debt Extension") and during a period ranging
from June 11, 2013 to July 31, 2013, the Offeror indirectly, acquired beneficial
ownership and control of 693,437 Common Shares at prices from $0.15 to $0.20 on
the TSX Venture Exchange (the "Market Purchase") and acquired, through ANG
Partners, Ltd. ("ANG"), beneficial ownership and control of 625,000 Common
Shares at a price of $0.25 pursuant to the exercise of 625,000 warrants (the
"Standby Warrants" and, together with the Debt Extension and Market Purchases,
the "Acquisitions"), granted in connection with ANG's standby commitment under
Montana's rights offering which closed June 4, 2013. The Common Shares acquired
pursuant to the Acquisitions represent 3.03% of the issued and outstanding
Common Shares.
Upon closing of the Acquisitions, Collins beneficially owns and controls
39,901629 Common Shares, representing approximately 45.63% of the issued and
outstanding Common Shares.
The acquisition of securities in Montana by the Offeror is for investment
purposes. The Offeror may from time to time dispose of, or acquire, additional
securities of Montana. The Common Shares issued in connection with the Debt
Extension were issued to the Offeror in reliance upon the employee, executive
officer, director and consultant exemption in Section 2.24 National Instrument
45-106 - Prospectus and Registration Exemptions ("NI 45-106"). The Common Shares
issued in connection with the Standby Warrants were issued in reliance upon the
conversion, exchange or exercise exemption in Section 2.42 of NI 45-106.
This press release is issued pursuant to National Instrument 62-103 - The Early
Warning System and Related Take-Over Bid and Insider Reporting Issues, which
also requires a report to be filed with regulatory authorities in each of the
jurisdictions in which Montana is a reporting issuer containing information with
respect to the foregoing matters (the "Early Warning Report"). A copy of the
Early Warning Report will appear with Montana's documents on the System for
Electronic Document Analysis and Retrieval and may also be obtained by
contacting Maggie Thompson on behalf of the Offeror at (956) 686-5491.
The TSX Venture Exchange has not reviewed and does not accept the responsibility
for the accuracy or adequacy of this press release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Maggie Thompson
(956) 686-5491
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