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MONTE ORO RESOURCES & ENERGY INC.
Monte Oro Resources & Energy Inc. (MORE) is a corporation wholly owned by Apex Mining Co. Inc. Among Apex Mining’s stockholders are: Ramon Y. Sy, Walter W. Brown, Graciano P. Yumul Jr., Modesto B. Bermudez, and Dennis A. Uy.
A. Brown Company Inc. and Prime Metroline Holdings Inc. are also among Apex’s top stockholders. A. Brown is owned by Walter W. Brown. Prime Metroline is owned by Enrique K. Razon Jr.
IN THE DATA:
Monte Oro Resources & Energy Inc. (MORE) appears in Commence records as the major shareholder of Monte Oro Mining Co. Ltd., a company registered in the British Virgin Islands.
Monte Oro Mining Co. Ltd. (MOMCL) is 90% owned by Monte Oro Resources & Energy Inc. (MORE) while the remaining 10% is owned by Walter W. Brown, according to a 2017 email.
In a 2016 Commence record, Razon was indicated as the beneficial owner of MOMCL.
RESPONSE:
Billy Torres, vice president for finance and compliance officer of APEX Mining Co. Inc. confirmed that Monte Oro Mining Co. Ltd. is owned 90% by Monte Oro Resources & Energy Inc. In turn, Monte Oro Resources and Energy Inc. is owned 100% by Apex Mining Co. Ltd. (APX). Torres said Monte Oro Mining Co. Ltd. has an exploration project in Sierra Leone, and noted “it is normal to establish offshore companies to hold offshore projects.”
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