By Sheri Kasprzak
New York, Feb. 8 - Mont Blanc Resources Inc. has arranged a private placement for up to C$1.02 million.
The offering includes up to 1.7 million units at C$0.60 each.
The units are comprised of one share and one warrant. The warrants are exercisable at C$1.00 each for two years.
The expiry of the warrants may be accelerated to 30 days if the company's stock trades above C$1.30 for 20 consecutive trading days.
Bolder Investment Partners, Ltd. is the placement agent.
Proceeds will be used for a proposed joint venture and farm-in agreement with an Alberta-based private oil and gas company.
Based in Vancouver, B.C., Mont Blanc is an oil and natural gas exploration and development company.
| Issuer: | Mont Blanc Resources Inc.
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| Issue: | Units of one share and one warrant
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| Amount: | C$1.02 million (maximum)
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| Units: | 1.7 million (maximum)
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| Price: | C$0.60
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$1.00
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| Placement agent: | Bolder Investment Partners, Ltd.
|
| Pricing date: | Feb. 8
|
| Stock symbol: | TSX Venture: MTN
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| Stock price: | C$0.68 at close Feb. 7
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