Dr. Antony Harwood Files Early Warning Report in Respect of Montero Mining and Exploration Ltd.

Harwood acquired the securities for investment purposes and may increase or decrease his holdings depending on market and other conditions.

Rhea-AI Summary

Montero Mining and Exploration (MXTRF) shareholder Dr. Antony Harwood filed an early warning report after increasing his stake through a private placement.

The offering closed October 8, 2026, raising C$1,500,000.15 from 2,727,273 units at C$0.55 each. Each unit contained one share and half a share purchase warrant. Whole warrants allow purchase of one share at C$0.70 for 12 months from issuance, subject to accelerated expiry in certain circumstances.

Harwood bought 363,637 units for C$200,000.35. His holdings rose from 777,046 shares and 333,333 options to 1,140,683 shares, 181,819 warrants and 333,333 options. His non-diluted ownership increased from approximately 9.19% to 10.20%; partially diluted ownership, which includes potential shares from his options and warrants, increased from approximately 12.64% to 14.16%.

1 point · 0 major

MixediHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

0 major · 2 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointMontero's completed private placement raised C$1,500,000.15 gross on October 8, 2026.

Negative

• Moderate pointPlacement issuance of 2,727,273 units at C$0.55 each, each containing one share, dilutes existing holders.
• Minor point. Forward-looking: it has not happened yet and may not happen.Each unit also included half a warrant, exercisable at C$0.70 per share for 12 months, adding potential dilution.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Toronto, Ontario--(Newsfile Corp. - October 16, 2026) - Dr. Antony Harwood announces today that he has filed an early warning report in respect of his holdings of common shares of Montero Mining and Exploration Ltd. (TSXV: MON) (OTC Pink: MXTRF) (FSE: ES0) (“Montero” or the “Company”).

On October 8, 2026, Montero closed a non-brokered private placement of an aggregate of 2,727,273 units of the Company (each, a "Unit") at a price of C$0.55 per Unit for gross proceeds of C$1,500,000.15 (the "Offering"). Each Unit was composed of one common share of the Company (each, a "Share") and one-half of one Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to acquire one Share at a price of C$0.70 for a period of 12 months from the date of issuance, subject to acceleration of the expiry date in certain circumstances.

Dr. Harwood acquired 363,637 Units, consisting of 363,637 Shares and 181,819 Warrants under the Offering for aggregate consideration of C$200,000.35.

Immediately prior to the closing of the Offering, Dr. Harwood beneficially owned, or controlled or directed, 777,046 Shares and 333,333 options to purchase Shares (each, an "Option"), representing approximately 9.19% of the then issued and outstanding Shares on a non-diluted basis and approximately 12.64% of the then issued and outstanding Shares on a partially diluted basis.

Immediately following the closing of the Offering Dr. Harwood beneficially owns, or controls or directs, 1,140,683 Shares, 181,819 Warrants and 333,333 Options, representing approximately 10.20% of the issued and outstanding Shares on a non-diluted basis and approximately 14.16% of the issued and outstanding Shares on a partially diluted basis.

The securities were acquired for investment purposes. Dr. Harwood may, depending on various factors including, without limitation, market and other conditions, increase or decrease his beneficial ownership of, or control or direction over, Shares or other securities of the Company.

For further information, please contact:
Dr. Antony Harwood
Telephone: +1 604 428 7050

The head office of the Company is located at Suite 401, 750 West Pender Street, Vancouver, British Columbia, V6C 2T7, Canada

This news release is issued pursuant to the early warning requirements of applicable Canadian securities laws. A copy of the early warning report will appear on Montero Mining and Exploration Ltd.'s profile on the SEDAR+ website at www.sedarplus.ca. A copy of the early warning report may also be obtained by contacting Dr. Antony Harwood.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/319339

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much did Antony Harwood invest in Montero's private placement?

Harwood paid C$200,000.35 for 363,637 units in Montero's offering, which closed October 8, 2026. His purchase comprised 363,637 shares and 181,819 warrants.

What is Antony Harwood's Montero ownership after the private placement?

Harwood's ownership reached approximately 10.20% on a non-diluted basis and approximately 14.16% on a partially diluted basis. Immediately after closing, he beneficially owned, controlled or directed 1,140,683 shares, 181,819 warrants and 333,333 options.

Why did Antony Harwood acquire Montero securities, and could his holdings change?

Harwood acquired the securities for investment purposes and may increase or decrease his ownership of, or control or direction over, Montero shares or other securities depending on factors including market and other conditions.