Montan Mining Corp. (TSXV:MNY) signed of a term sheet to acquire Cerro Dorado SAC from Chazel Capital Inc for CAD 0.88 million in stock on July 14, 2016. Montan Mining Corp. will pay 10 million Montan Mining shares on execution of sale to be held in escrow and released at 2 million shares at the end of every 3 months from the day of closing, 2 million Montan Mining shares upon sale of 1,000 oz Au-contained ore or dore from either the mine or the plant and 2 million Montan Mining shares upon sale of an additional 2,000 oz Au-contained ore or dore (3,000 oz total) from either the mine or the plant. The payment will be for $0.3 million owed by by Cerro Dorado SAC in Peru, which Montan Mining Corp. will assume. As of October 19, 2016, Montan Mining Corp. arranged a private placement financing of up to CAD 0.6 million to fund the acquisition. The deal is scheduled to close before the deadline of January 16, 2017. As on December 15, 2016, Montan Mining Corp. (TSXV:MNY) entered into a definitive agreement to acquire Cerro Dorado SAC from Chazel Capital. If Montan elects to proceed with the transaction by assuming the option payments and Cerro Dorado operating costs from July 25, 2016, onward, the standstill and exclusivity are extended until October 30, 2016, or until a definitive agreement is completed. Jose Luis Garcia Yrivarren, Montan Mining Corp.’s Vice President Operations in Peru will work with Cerro Dorado’s existing team. Closing of the transaction is conditional upon TSX Venture Exchange approval. The currency conversions were done from www.oanda.com on July 14, 2016. Montan Mining Corp. (TSXV:MNY) completed the acquisition of Cerro Dorado SAC from Chazel Capital Inc on January 16, 2017.