Boulder Mining to raise up to $850,000
Boulder Mining Corp YBR
Shares issued 12,544,491 Dec 19 2001 close $.210
Thursday Dec 20 2001 News Release
Mr. John McAdam reports
BOULDER MINING PLANS TO RAISE UP TO $850,000
Boulder Mining is planning to raise a minimum of $300,000 and a maximum of $450,000 by means of a private placement financing of hard dollars and up to an additional $400,000 of super flow-through financing also by means of private placements.
Hard dollar financing
The hard dollar offering will be a minimum of two million units and a maximum of three million units, each unit consisting of one common share and one common share purchase warrant to purchase an additional common share of Boulder Mining, at a subscription price of 15 cents per unit. Each warrant entitles the holder to purchase one share at 25 cents per share for a period of 12 months. The offering is expected to close on Jan. 15, 2002, and will be subject to regulatory approval.
The hard dollar proceeds will be used to establish an office in Vancouver, to complete due diligence on further acquisitions and to provide working capital for the corporation.
Super flow-through financing
The super flow-through offering will be up to a maximum of two million units of super flow-through common shares at a subscription price of 20 cents per share. The offering is expected to close by Dec. 31, 2001, and will be subject to regulatory approval.
The super flow-through proceeds will be used to undertake an exploration program on the company's exciting Abitibi Lake kimberlite and gold projects. The work program is expected to begin immediately upon closing of the financing.
The board of directors approved on Dec. 19, 2001, a stock option in favour of Nelson Baker, vice-president exploration, in the amount of 200,000 common shares at a price of 20 cents per share for a period of five years.
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