By Sheri Kasprzak
New York, Feb. 7 - Mountain Boy Minerals Ltd. said it priced a private placement for up to C$2.62 million.
The company will sell up to 1 million flow-through units at C$0.80 each and up to 2.6 million non flow-through units at C$0.70 each.
The flow-through units consist of one flow-through share and one warrant, which is exercisable at C$0.90 each for one year.
The non flow-through units include one share and one warrant. Those warrants are exercisable at C$0.80 each for one year.
The expiry of the warrants may be accelerated to 30 days if the company's stock trades above C$1.20 for more than 20 consecutive trading days.
Proceeds will be used for exploration on the company's Silver Coin and Mountain Boy properties, as well as for working capital.
Vancouver, B.C.-based Mountain Boy is a mineral exploration company.
| Issuer: | Mountain Boy Minerals Ltd.
|
| Issue: | Flow-through and non flow-through units of one share and one warrant
|
| Amount: | C$2.62 million (maximum)
|
| Placement agent: | Non-brokered
|
| Pricing date: | Feb. 7
|
| Stock symbol: | TSX Venture: MTB
|
| Stock price: | C$0.64 at close Feb. 7
|
|
|
| Flow-through units
|
| Units: | 1 million (maximum)
|
| Price: | C$0.80
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.90
|
|
|
| Non flow-through units
|
| Units: | 2.6 million (maximum)
|
| Price: | C$0.70
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.80
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
