Monarques Receives an Amount of $410,861.96
April 12, 2013 (Source: Marketwire) Quebec City, QC — Monarques Resources Inc. (“Monarques” or the “Corporation”) (TSX VENTURE:MQR) is pleased to announce that it has sold, for a sum of $410,861.96, a mortgage that it held on a mining property in Quebec. Monarques had acquired the debt in the amount of $100,000 in order to acquire the mining property subject to the mortgage.
“Given the economic climate, we are very pleased with the turn of events.” commented Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. “It took ingenuity and originality to make a successful transaction that allows us to generate more than $310,000 in cash for the company without issuing additional shares, and which represents a return on investment of over 300% in only a few months.”
Monarques Resources Inc. (MQR) is a mineral exploration company that is exploring for base metals, precious metals including the platinum group elements (PGE) and industrial minerals including rare earth elements (REE) in the Lower James Bay Region, in the province of Quebec.
The forward-looking statements herein involve inherent known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements of Monarques to be materially different from any future results, performance or achievements expressed or suggested in this press release. Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.
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