MTB financing = drilling funds (non-dilutive) for Red Cliff
Mountain Boy arranges $500,000 private placement 2016-06-15 12:40 ET - News Release Mr. Randolph Kasum reports NON-BROKERED PRIVATE PLACEMENT TO RAISE UP TO $500,000 Mountain Boy Minerals Ltd. is arranging a private placement to raise proceeds of up to $500,000. It has been agreed the offering will comprise up to 10 million flow-through units at a price of five cents per FT unit. Each FT unit comprises one FT common share and one common share purchase warrant, with each warrant being exercisable for the purchase of one additional common share for a two-year period at a price of seven cents per share. The proceeds from the sale of the FT units will be expended on the company's Red Cliff property and other properties, located in British Columbia. The company may pay a finder's fee in connection with the private placement in accordance with TSX Venture Exchange policies. Certain directors and officers of the company may acquire securities under the private placement. Any such participation would be considered to be a related party transaction as defined under Multilateral Instrument 61-101. The transaction will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as neither the fair market value of any shares issued to or the consideration paid by such persons will exceed 25 per cent of the company's market capitalization. We seek Safe Harbor. 2016 Canjex Publishing Ltd. All rights reserved.