/NOT FOR DISTRIBUTION IN THE UNITED
STATES OR OVER UNITED
STATES WIRE DISTRIBUTION SERVICES/
CALGARY,
July 23, 2014 /CNW/ - Montana
Exploration Corp. ("Montana") (TSXV:MTZ) has closed the
previously announced $3,250,000
private placement of convertible debentures with ANG Partners, Ltd.
("ANG"), an affiliate of James
Collins, a control person and director of Montana, and Blue
Sky Exploration Limited ("Blue Sky"), an affiliate of
Julian McIntyre, a control person
and director of Montana, pursuant to which Montana borrowed the
principal amount of $2,000,000 from
ANG and $1,250,000 from Blue Sky. The
debentures have an interest rate of 12% per annum and, at any time
before five years from the effective date of the debentures, the
principal amount owing under the debentures may be converted into
common shares in the capital of Montana (the "Shares") at a
price of $0.25 per Share.
About Montana Exploration Corp.
Montana is a Canadian junior oil and gas
exploration and production company focusing on the Shaunavon oil opportunities underlying its
extensive land holdings in the state of Montana. In the United States the company operates through
its wholly owned subsidiary, Montana
Land & Exploration, Inc. Montana's common shares are
listed on the TSX Venture Exchange under the trading symbol "MTZ".
Additional information regarding Montana is available under
Montana's profile at www.sedar.com or at Montana's website,
www.montanaexplorationcorp.com.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS
REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE
POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR
THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE Montana Exploration Corp.