Dr. Antony Harwood has filed an early warning report disclosing an increased ownership position in Montero Mining and Exploration Ltd. (TSXV: MON | OTC Pink: MXTRF | FSE: ES0) following participation in the company's recently closed private placement. Harwood acquired 363,637 units at C$0.55 each for aggregate consideration of approximately C$200,000, boosting his non-diluted ownership from roughly 9.19% to 10.20%. The disclosure signals continued insider confidence in Montero and may be of interest to investors monitoring shareholder composition at the junior mining company.

Key Points

  • Montero Mining and Exploration Ltd. (TSXV: MON | OTC Pink: MXTRF | FSE: ES0) is the subject of this early warning disclosure by Dr. Antony Harwood.
  • Harwood acquired 363,637 units — comprising 363,637 common shares and 181,819 warrants — under a non-brokered private placement that closed October 8, 2026.
  • His non-diluted ownership rose from approximately 9.19% to approximately 10.20%; partially diluted ownership rose from approximately 12.64% to approximately 14.16%.
  • Investors may be watching whether Harwood adjusts his position further, as the release states he may increase or decrease his holdings depending on market and other conditions.

Montero Mining Closes C$1.5 Million Non-Brokered Private Placement

On October 8, 2026, Montero Mining and Exploration Ltd. closed a non-brokered private placement of 2,727,273 units at C$0.55 per unit, raising gross proceeds of approximately C$1,500,000. Each unit comprised one common share and one-half of one share purchase warrant. Each whole warrant entitles the holder to acquire one additional common share at C$0.70 for a period of 12 months from the date of issuance, subject to acceleration of the expiry date under certain circumstances. The offering structure provides the company with near-term capital while giving participants warrant optionality at a premium to the placement price.

Harwood's Unit Acquisition and Cost Under the Offering

Dr. Harwood participated in the placement by acquiring 363,637 units — consisting of 363,637 common shares and 181,819 warrants — for aggregate consideration of approximately C$200,000. This purchase was made for investment purposes, according to the early warning report. Prior to this transaction, Harwood already held 777,046 shares and 333,333 options. His post-closing position stands at 1,140,683 shares, 181,819 warrants, and 333,333 options, reflecting a meaningful increase in his economic exposure to Montero.

Ownership Thresholds Crossed Following Placement Closing

The acquisition pushed Harwood's non-diluted ownership above 10%, a threshold that triggers early warning reporting obligations under Canadian securities law. On a partially diluted basis — incorporating his warrants and options — his ownership now stands at approximately 14.16%, up from approximately 12.64% before the transaction. The release states that Harwood may, depending on market and other conditions, elect to increase or decrease his beneficial ownership or control of Montero shares or other securities in the future. The immediate share price impact was not clear from available public information.