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VANCOUVER, British Columbia, Feb. 01, 2020 (GLOBE NEWSWIRE) -- Malaco Mining Sdn Bhd (the " Malaco "), of Kuala Lumper, Malaysia, announces that the Malaco acquired beneficial ownership or control an aggregate of 30 million common shares (collectively, the " Shares ") of Monument Mining Limited of Vancouver, BC. Canada (the " Issuer ", listed at Toronto Stock Venture Exchange: MMY).

The Acquisitions took place through an off market arrangement (collectively, the " Arrangement ") in the amounts, on the dates and for the deemed debt settlement consideration set forth below:

Date of Sale Shares sold Consideration per share Aggregate Consideration
January 31, 2020 30,000,000  CDN$0.50  CDN$15,000,000 

Prior to the Acquisition, the Malaco had beneficial ownership or control over 25,000,000 common shares of the Issuer, representing 7.68% of the Issuer's issued and outstanding common shares on a non-diluted basis, or a partially-diluted basis assuming the exercise of the Malaco's warrants and incentive stock options only, on the date thereof.

After the Acquisition on January 31, 2020, Malaco has beneficial ownership or control over common shares of the Issuer, representing 16.90% of the Issuer's issued and outstanding common shares on a non-diluted and a partially-diluted basis assuming the exercise of the acquiror's warrants and incentive stock options only, as of the date hereof.

The Malaco acquired beneficial ownership or control the Shares for purpose of meeting a private arrangement. Malaco intends to evaluate his investment in the Issuer and to increase or decrease his beneficial shareholdings from time to time as he may determine appropriate for investment purposes.

A copy of the early warning reports of Malaco corresponding to this press release can be obtained from Malaco, at Suite 568-10-36, Level 10, Kompleks Mutiara, Batu 3 1/2, Jalan Ipoh, 51200, Kuala Lumpur, Malaysia, or on SEDAR at www.sedar.com under the Issuer's profile.  

Contact: hksia@malaco.com.my