Post by
rtszd on Nov 27, 2010 11:22am
HBY - Due Diligence Critical Before Purchase
Strongly recommend doing your research on HBY prior to purchasing shares. I trusted my broker on this recommendation and it cost me a bundle as well, I sure, as many other investors. Ecuador may have potential but The Great Bear Lake Properties have some significant issues attached!
BUYER BEWARE
HUNTER BAY MINERALS plc
93-95 Gloucester Place
London, England W1U 6JQ
Telephone: (+44) 203-178-2101
Facsimile (+44) 207-724-2734
NEWS RELEASE
Hunter Bay Minerals plc Completes Initial Public Offering
September 8, 2010 – London, England. Hunter Bay Minerals plc (the “Company”) (TSX-V: HBY) is pleased to announce that on September 8, 2010, it successfully completed its initial public offering (the “IPO”) of 4,000,000 units of the Company at a price of
.15 per unit for gross proceeds of $600,000 (the “Proceeds”). Each unit is comprised of one ordinary share and one non-transferable ordinary share purchase warrant, with each warrant entitling the holder to acquire a further ordinary share at a price of
.25 per share until September 8, 2012.
Canaccord Genuity Corp. acted as agent (the “Agent”) for the IPO. The Company paid to the Agent a cash commission equal to 10% of the Proceeds and granted non-transferable options to purchase 400,000 ordinary shares of the Company at a price of
.25 per share until September 8, 2012. The Agent also received a corporate finance fee.
The Company is also pleased to announce that it has received approval of its application to list its ordinary shares on the TSX Venture Exchange (“TSX-V”). The Company’s ordinary shares will commence trading on the TSX-V on Friday, September 10, 2010 under the trading symbol “HBY”.
About the Company
The Company is a mineral exploration company that owns a one-hundred percent (100%) interest in the Great Bear Lake Properties (the “Great Bear Lake Properties”), which is comprised of the 97 mineral claims totaling 194,668 acres, located in the eastern side of Great Bear Lake, Northwest Territories and has an option to acquire a forty five percent (45%) interest in the net profits of the Fortuna Project, which is comprised of two mining concessions totaling 185 hectares, located in the Nambija Gold District, Ecuador.
The Proceeds will be used by the Company to fund a Phase I drilling and exploration program on the Great Bear Lake Properties and for general working capital purposes.