By Laura Lutz
Des Moines, Nov. 6 - United Bolero Development Corp. arranged a private placement of units for up to C$3 million.
The company plans to sell up to 8,571,429 units of one share and one warrant at C$0.35 per unit. Each warrant will be exercisable at C$0.45 for two years.
MGI Securities Inc. and PowerOne Capital Markets Ltd. will act as agents for the deal.
Proceeds will be used for exploration and development on the company's Bad Butte and Cannivan Gulch molybdenum projects in Montana, for exploration of its Copper Star claims and for working capital.
Settlement is expected on Nov. 22.
United Bolero is a mineral resource company based in Vancouver, B.C.
| Issuer: | United Bolero Development Corp.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$3 million
|
| Units: | 8,571,429
|
| Price: | C$0.35
|
| Warrants: | No
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.45
|
| Agents: | MGI Securities Inc., PowerOne Capital Markets Ltd.
|
| Pricing date: | Nov. 6
|
| Settlement date: | Nov. 22
|
| Stock symbol: | TSX Venture: UNB
|
| Stock price: | C$0.34 at close Nov. 6
|
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