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 the company's October 8, 2026 non-brokered private placement. Dr. Harwood acquired 363,637 units at C$0.55 each for aggregate consideration of C$200,000.35, lifting his non-diluted ownership from approximately 9.19% to approximately 10.20%. The disclosure crosses a reporting threshold under Canadian securities laws, making the early warning report a mandatory filing for investors to note.

Key Points

  • Montero Mining and Exploration Ltd. (TSXV: MON | OTC Pink: MXTRF | FSE: ES0)
  • Dr. Antony Harwood acquired 363,637 units — comprising 363,637 common shares and 181,819 warrants — in Montero's non-brokered private placement
  • Post-closing, Dr. Harwood holds 1,140,683 shares, 181,819 warrants, and 333,333 options, representing approximately 10.20% on a non-diluted basis and approximately 14.16% on a partially diluted basis
  • Investors may watch whether Dr. Harwood adjusts his position further, as the filing 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

Montero Mining and Exploration closed a non-brokered private placement on October 8, 2026, issuing 2,727,273 units at C$0.55 per unit for gross proceeds of C$1,500,000.15. Each unit consisted of 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 in certain circumstances. The offering structure is consistent with junior mining sector financings designed to support exploration activity.

Dr. Harwood's Stake Before and After the Offering

Immediately before the offering closed, Dr. Harwood beneficially owned or controlled 777,046 shares and 333,333 options, equating to approximately 9.19% of issued and outstanding shares on a non-diluted basis. Following his C$200,000.35 investment, his total holdings rose to 1,140,683 shares, 181,819 warrants, and 333,333 options — representing approximately 10.20% on a non-diluted basis and approximately 14.16% on a partially diluted basis, according to the early warning report.

Investment Purpose Cited as Dr. Harwood Retains Flexibility on Future Moves

The release states the securities were acquired for investment purposes. Dr. Harwood has indicated he may increase or decrease his beneficial ownership depending on market conditions and other factors, leaving his future positioning open-ended. No specific operational use of the placement proceeds was disclosed in the announcement. The immediate share price impact was not clear from available public information.