VANCOUVER, British Columbia, Nov. 19, 2018 (GLOBE NEWSWIRE) -- Mountain Boy Minerals Ltd (“Mountain Boy” or the “Company”) (TSX.V: MTB; Frankfurt: M9U) announces that it has closed the first tranche of its private placement announced October 26th, 2018 of common shares. A total of 640,000 Units were issued at an offering price of $0.25 per Unit for gross proceeds to the Company of C$160,000. Each Unit will consist of one common share of the Company and one common share purchase warrant. Each whole warrant will be exercisable for one common share of the Company at a price of $0.30 for a period of two years from the date of issuance. The proceeds of the private placement will be used for property exploration and general working capital. The common shares issued under this placement are subject to a four-month hold period until March 20th, 2019. Insiders subscribed for 400,000 Units for proceeds of $100,000.
About Mountain Boy Resources Ltd.
Mountain Boy Resources 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 Red Cliff interest, Mountain Boy Resources own 100 per cent of the high-grade MB silver project, and 100 per cent of the BA and Surprise Creek volcanic massive sulphide (VMS) copper-lead-zinc-silver projects. The Company has 3,746,874 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:
President & CEO
For further information, contact:
VP Corporate Development
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