Vancouver, BC – Mountain Boy Minerals Ltd (“Mountain Boy” or the “Company”) (TSX.V: MTB; Frankfurt: M9UA) announces it has closed the Flow-Through private placement announced July 3rd, 2020 and increased on July 15th, 2020. A total of 4,166,669 Flow-through shares were issued at an offering price of $0.30 per Common Share for gross proceeds to the Company of $1,250,000.
The net proceeds of the Offering will be used for exploration of the Company’s projects in BC’s Golden Triangle, including planned drilling of the American Creek project. The common shares issued under this placement are subject to a four-month hold period until November 16th, 2020. Insiders purchased $115,411 of this Flow-through financing. Finder’s fees of $44,430 in cash were paid to eligible parties. Mountain Boy now has 49,027,051 common shares issued and outstanding.
On behalf of the Board of Directors:
President & CEO
For further information, contact:
VP Corporate Development
NEITHER 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.
This news release may contain certain “forward looking statements”. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.