VANCOUVER, British Columbia, Nov. 27, 2019 (GLOBE NEWSWIRE) -- Mountain Boy Minerals Ltd (“Mountain Boy” or the “Company”) (TSX.V: “MTB”; Frankfurt: “M9U”) announces that it has arranged a private placement “Flow Through” common shares at $0.25 per share to raise $250,000 to fund additional exploration programs on its British Columbia gold and silver properties located in the “Golden Triangle”.
Mountain Boy will issue 1,000,000 Flow Through shares at $0.25 per share which will be eligible for a tax deduction for Canadian income tax payers for the 2019 year. The gross proceeds from this offering of Flow Through shares will be invested in eligible exploration expenditures in the province of British Columbia and certain British Columbia residents may be eligible for addition income tax deductions making this offering’s shares commonly referred to as “super” flow through shares.
Insiders may be participating in this offering and eligible finders may be paid a commission for introducing investors to the Company. All securities will be subject to a four month hold period from the date of closing which is expected to be in approximately two weeks.
About Mountain Boy Minerals Ltd.
Mountain Boy Minerals is a Canadian-based mineral exploration company with a property portfolio of gold and silver projects within the Stewart region in the very prolific Golden Triangle region of British Columbia. In addition to the 35% Red Cliff interest, Mountain Boy own 100 per cent of the high-grade American Creek West project, and 100 per cent of the BA and Surprise Creek volcanic massive sulphide (VMS) copper-lead-zinc-silver projects. The Company has a significant holding of shares of Ascot Resources Ltd. it received in return for the sale of its 20% interest in the Silver Coin property. For a complete listing of the Company assets and developments, visit the Company website at www.mountainboyminerals.ca.
On behalf of the Board of Directors:
Lawrence Roulston
President & CEO
(604) 914-2142
For further information, contact:
Nancy Curry
VP Corporate Development
(604) 220-2971
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
