By Sheri Kasprzak
New York, April 5 - Mountain Boy Minerals Ltd. has arranged a C$1,575,000 private placement.
The offering includes up to 2 million flow-through units at C$0.60 each and up to 750,000 non flow-through units at C$0.50 each.
The units consist of one share and one warrant. The warrants are exercisable at C$0.75 each for two years.
The expiry of the warrants may be accelerated if the company's stock trades above C$1.00 for more than 20 consecutive trading days.
Research Capital Corp. is the placement agent.
Proceeds will be used for exploration on the company's mineral properties and for working capital.
Stewart, 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$1,575,000
|
| Placement agent: | Research Capital Corp.
|
| Pricing date: | April 5
|
| Stock symbol: | TSX Venture: MTB
|
| Stock price: | C$0.59 at close April 4
|
|
|
| Flow-through units
|
| Units: | 2 million (maximum)
|
| Price: | C$0.60
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.75
|
|
|
| Non flow-through units
|
| Units: | 750,000 (maximum)
|
| Price: | C$0.50
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.75
|
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