December 22, 2021
Vancouver, B.C. –Mountain Boy Minerals Ltd.(“Mountain Boy” or the “Company”) (TSX.V: MTB, OTCQB: MBYMF, Frankfurt: M9U) is pleased to announce that the non-brokered private placement (the “Offering”) for gross proceeds of up to C$1,000,000 has been increased to $1.3 million and will close on December 30, 2021. The terms are as announced on December 16, 2021.
Each FT Unit will consist of one common share of the Company to be issued as a “flow-through share” within the meaning of the Income Tax Act (Canada) (each, a “FT Share”) and one half of one common share purchase warrant (each whole warrant, a “Warrant”). The price of each FT Unit is $0.17. Each Warrant will entitle the holder thereof to purchase one common share of the Company (each, a “Warrant Share”) at a price of C$0.26 for a period of 24 months following the closing date of the Offering.
Red Cloud Securities Inc. will be acting as a finder in connection with the Offering.
Addition of a Unit Offering
In addition, Mountain Boy has also arranged a non-brokered private placement of units (“Units”) at $0.17 per Unit for gross proceeds of $150,000. Each Unit will consist of one common share and one half of one common share purchase warrant. Each unit warrant will entitle the holder thereof to purchase one common share of the Company at a price of $0.20 for a period of 24 months following the closing date of the Unit Offering.
Red Cloud Securities Inc. will be acting as a finder in connection with the Unit Offering also.
The closing of the Offering is subject to receipt of all necessary regulatory approvals including the TSX Venture Exchange. Finder’s fees will be payable in accordance with the policies of the TSX Venture Exchange. The FT Shares, Warrant Shares and any common shares of the Company that are issuable from any finder’s warrants will be subject to a hold period of four months and one day following the closing date of the Offering in accordance with applicable securities laws.
The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.