- Mountain Boy Minerals Ltd. (MTB) has closed its non-brokered private placements for total gross proceeds of $1,654,502
- Mountain Boy raised gross proceeds of $1,347,102 from the sale of 10,362,324 flow-through units and $307,400 from the sale of 2,561,667 non-FT units
- Mountain Boy will use the proceeds for the exploration of its projects in British Columbia
- It has six active projects spanning 650 square kilometres Golden Triangle area
- Mountain Boy Minerals Ltd. (MTB) opened trading at $0.12 per share
Mountain Boy Minerals (MTB) has closed its upsized non-brokered private placements for gross proceeds of $1,654,502.
CEO Lawrence Roulston commented on the successful capital raise.
“These new funds, added to the existing working capital, put Mountain Boy in a strong position to continue exploration on our Telegraph copper-gold property. The information gained from this year’s program is being integrated with the wealth of information from previous work to guide us in the next phase of work. Our 6 other projects in the Golden Triangle are also advancing.”
Mountain Boy raised gross proceeds of $1,347,102 from the sale of 10,362,324 flow-through units and $307,400 from the sale of non-FT units. Each FT unit sold for $0.13, and non-FT units of Mountain Boy sold for $0.12 per unit.
FT units consist of one common share and one common share purchase warrant. Non-FT unit consist of one common share of the company and one warrant.
A single warrant will entitle the holder to purchase one common share at a price of $0.18 for two years after the issue date.
Finder’s fees of $99,510 in cash were paid, and 771,388 finder’s warrants were issued. Each finder’s warrant is exercisable into one common share at a price of C$0.12 for a period of 24 months following the issue date.
All securities issued will be subject to a statutory four-month hold period.
Proceeds will be used to explore its projects in northern British Columbia. It has six active projects spanning 650 square kilometres Golden Triangle area.
Mountain Boy Minerals Ltd. (MTB) opened trading at $0.12 per share.