Mr. Lawrence Roulston reports
MOUNTAIN BOY CLOSES $1,250,000 FLOW-THROUGH FINANCING
Mountain Boy Minerals Ltd. has closed the flow-through private placement announced July 3, 2020, and increased on July 15, 2020. A total of 4,166,669 flow-through shares were issued at an offering price of 30 cents per common share for gross proceeds to the company of $1.25-million.
The net proceeds of the offering will be used for exploration of the company's projects in British Columbia'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 Nov. 16, 2020. Insiders purchased $115,411 of this flow-through financing. Finders' fees of $44,430 in cash were paid to eligible parties. Mountain Boy now has 49,027,051 common shares issued and outstanding.
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