Mountain Boy Closes Oversubscribed Private Placement
Not for dissemination in the United States or through U.S. newswires
VANCOUVER, British Columbia, Dec. 20, 2019 (GLOBE NEWSWIRE) -- Mountain Boy Minerals Ltd (“Mountain Boy” or the “Company”) (TSX.V: MTB; Frankfurt: M9U) reports that the non-brokered private placements announced on November 27th, 2019 is closed.
A total of 1,040,000 Flow Through shares were issued at an offering price of $0.25 per common share for gross proceeds to the Company of $260,000. The gross proceeds from this offering of Flow Through shares will be invested in eligible exploration expenditures in the province of British Columbia and certain British Columbia residents may be eligible for addition income tax deductions making this offering’s shares commonly referred to as “super” flow through shares.
The common shares issued under this placement are subject to a four-month hold period until April 20, 2020. Finder’s fees of 7.5% in cash and 7.5% in finder’s warrants will be paid to eligible parties.
About Mountain Boy Minerals Ltd.
Mountain Boy Minerals is a Canadian-based mineral exploration company with a property portfolio of gold and silver projects within the Stewart region in the very prolific Golden Triangle region of British Columbia. In addition to the 35% Red Cliff interest, Mountain Boy own 100 per cent of the high-grade American Creek West project, and 100 per cent of the BA and Surprise Creek volcanic massive sulphide (VMS) copper-lead-zinc-silver projects. The Company has a significant holding of shares of Ascot Resources Ltd. it received in return for the sale of its 20% interest in the Silver Coin property. For a complete listing of the Company assets and developments, visit the Company website at www.mountainboyminerals.ca.
On behalf of the Board of Directors:
Lawrence Roulston
President & CEO
For further information, contact:
Nancy Curry
VP Corporate Development
(604) 220-2971
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
