Monarch Announces it Has Been Served With a Prior Notice of Exercice of a Hypothecary Right

MONTREAL, Nov. 03, 2023 (GLOBE NEWSWIRE) -- MONARCH MINING CORPORATION (“Monarch” or the “Corporation”) (TSX: GBAR) (OTCQB: GBARF) announces that Investissement Québec (“IQ”), one of its creditors, has served the Corporation a prior notice of exercise of a hypothecary right, in accordance with the loans it has granted Monarch, which are secured by a hypothec encumbering all the present and future, tangible and intangible assets, movable and immovable of the Corporation. As of the date of this new release, Monarch owes to IQ the sum of $10,086,397.08.

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