- Mountain Boy Minerals Ltd. (MTB) has increased its non-brokered private placements of FT and non-FT units for total gross proceeds of $1,628,502
- Each FT unit will be sold for $0.13, and non-FT units will sell for $0.12 per unit
- 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) is up 16.67 per cent, trading at $0.14 per share as of 3:15 p.m. EST
Mountain Boy Minerals (MTB) has upsized its previously-announced non-brokered private placements of FT and non-FT units for gross proceeds of $1,628,502.
The company will raise $1,321,102 from the sale of flow-through units and $307,400 from the sale of non-FT units. Each FT unit will be sold at a price of $0.13, and non-FT units of Mountain Boy for $0.12 per unit.
An FT unit will consist of one common share and one common share purchase warrant. Each non-FT unit will consist of one common share of the company and one warrant.
A single warrant will entitle the holder thereof to purchase one common share at a price of $0.18 for two years after the issue date.
Finder’s fees of up to 7 per cent in cash and 7 per cent in finder’s warrants will be payable. 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.
Mountain Boy intends to use the proceeds for the exploration of its projects in northern British Columbia. It has six active projects spanning 650 square kilometres Golden Triangle area.
Mountain Boy Minerals Ltd. (MTB) is up 16.67 per cent, trading at $0.14 per share as of 3:15 p.m. EST.