Non-brokered offering funds winter drill program at Dunwell Gold Mine
By Devika Patel
Knoxville, Tenn., Dec. 7 - Mountain Boy Minerals Ltd. said it increased a non-brokered private placement of units. The deal priced for C$775,000 on Nov. 30 and will now raise C$2.33 million.
The company will now sell 15 million units of one flow-through common share and one half-share warrant at C$0.155 each. Each full warrant is exercisable at C$0.20 for two years. The strike price is a 17.65% premium to the Nov. 29 closing share price of C$0.17.
Proceeds will be used to fund a winter drill program on the company's Dunwell Gold Mine.
Stewart, B.C.-based Mountain Boy is a mineral exploration company. It owns 30% of the Silver Coin project, a gold-silver-base metals project. The Company is also is exploring silver-base metals on its American Creek and Bear Valley properties as well as copper-gold in their Stewart area claims.
| Issuer: | Mountain Boy Minerals Ltd.
|
| Issue: | Units of one flow-through common share and one half-share warrant
|
| Amount: | C$2,325,000
|
| Units: | 15 million
|
| Price: | C$0.155
|
| Warrants: | One half-share warrant per unit
|
| Warrant strike price: | C$0.20
|
| Warrant expiration: | Two years
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 30
|
| Upsized: | Dec. 7
|
| Stock symbol: | TSX Venture: MTB
|
| Stock price: | C$0.16 at close Nov. 30
|
| Market capitalization: | C$11.61 million
|
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