One-year financing agreement funds operating expenses, acquisitions
By Devika Patel
Knoxville, Tenn., Oct. 29 - Lucky Boy Silver Corp. arranged a committed equity financing facility with Cardinal Capital Holdings, Ltd. on Oct. 28, according to an 8-K filed Friday with the Securities and Exchange Commission.
Cardinal Capital has committed to purchase up to $2.5 million of the company's common shares through Oct. 19, 2011.
The advances may be drawn in tranches of up to $250,000.
Proceeds will be used for operating expenses, acquisitions, working capital and general corporate activities.
Based in Blaine, Wash., Lucky Boy, formerly Sierra Ventures, Inc., explores for precious metals.
| Issuer: | Lucky Boy Silver Corp.
|
| Issue: | Committed equity financing facility
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| Amount: | $2.5 million
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| Tenor: | Oct. 19, 2011
|
| Warrants: | No
|
| Investor: | Cardinal Capital Holdings, Ltd.
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| Pricing date: | Oct. 28
|
| Stock symbol: | OTCBB: LUCB
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