FINANCING NEWS OUT!United Bolero Development Corp.
Suite 1220, 789 West Pender Street
Vancouver, BC, V6C 1H2
Phone: (604) 683-3995 Fax: (604) 683-3988
Email: info@unitedbolero.com
Website: www.unitedbolero.com
FOR IMMEDIATE RELEASE
United Bolero Completes Flow-Through Financing
March 22, 2006, Vancouver, BC, Canada - United Bolero Development Corp. (the “Company” or “United Bolero”), (TSX-V: UNB)
United Bolero announced today that it has completed the private placement of 1,000,000 flow-through common shares, at a price of $0.50 per flow-through common share, to raise gross proceeds of $500,000. The sole subscriber to the placement was Stone 2006 Flow-Through Limited Partnership.
No commissions or finder’s fees were payable in respect to the monies raised. Proceeds from the private placement will be used to fund exploration of the Company’s Canadian mineral projects. The shares issued pursuant to the private placement are subject to a four month hold period ending July 24, 2006.
United Bolero is listed on the TSX-Venture Exchange under the symbol UNB, as well as the Frankfurt Exchange under U7N. For more information, please visit www.unitedbolero.com or call us toll-free at 888-945-4770.
On behalf of the Board of Directors
“R. Bruce Duncan”
President & CEO
About United Bolero
United Bolero is focused on acquiring and exploring quality mining and oil and gas properties. It recently acquired an option for a 100% ownership interest in two large-scale molybdenum properties in the state of Montana. The Company is also active in the oil and gas sector with a 50% working interest in five oil wells: three in Wyoming’s Powder River Basin and two in Musselshell County, Montana. United Bolero also has precious metal interests through a significant copper find in Montana, and through a partnership with Solitaire Minerals to develop the South Baird claims units, located in the heart of the renowned Red Lake Mining District in Ontario.
The TSX Venture Exchange has not reviewed and does not take responsibility for the adequacy or accuracy of the contents of this release.
Certain information included in this press release is forward looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events.