Monumental Energy Corp. has closed a non-brokered private placement, raising gross proceeds of CAD$55,800 to support general working capital requirements.

The financing involved the issuance of 620,000 units priced at CAD$0.09 per unit. Each unit consists of one common share and one transferable common share purchase warrant. Each whole warrant is exercisable to purchase one common share at a price of CAD$0.15 for two years from the closing date.

No finder's fees are payable on the transaction. All securities issued under the placement, along with any common shares issuable upon the exercise of warrants, are subject to a statutory hold period of four months and one day following the closing date under Canadian securities laws and TSX Venture Exchange policies.

Monumental focuses its operational activities on acquiring and developing properties in the critical and clean energy sectors, building a strategic position in New Zealand's onshore Taranaki Basin to target near-term oil production and natural gas development.

Read the full announcement: Monumental Energy Closes Private Placement Financing