Mountain Boy Minerals (MTB) has closed its previously announced offerings of flow-through and non-flow-through units for proceeds of $1.4 million.
Mountain Boy raised gross proceeds of $1,289,800 from the sale of 7,587,057 FT units. Each FT unit consists of one common share and one half of one common share purchase warrant.
The company also closed a non-brokered private placement of units for gross proceeds of $150,000. Each unit consists of one common share and one half of one common share purchase warrant.
The funds will be used primarily for the exploration of Mountain Boy’s properties in the Golden Triangle of British Columbia.
Lawrence Roulston stated,
“These new funds, added to the existing working capital, puts Mountain Boy in a strong position to continue an aggressive exploration program across our six Golden Triangle properties. Even though we don’t have geologists in the field at this time, there is still an enormous amount of work underway. The geological team, in cooperation with some top research groups, continues to extract scientific information from the samples taken during the past field season and to integrate that new information with the wealth of information generated previously. We expect to have a great deal more information in hand as a basis for planning the next field season.”
Finder’s fees and warrants were paid to Red Cloud Securities Inc. All securities are subject to a four-month hold period expiring on April 30, 2022.
Mountain Boy Minerals Ltd is an exploration company with a large property portfolio of gold and silver projects in the prolific Golden Triangle of northern British Columbia.
Mountain Boy Minerals Ltd. (MTB) opened trading at C$0.16 per share.