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Mont Blanc Completes Flow-Through Private Placement
VANCOUVER, B.C., November 1, 2006 - Mont Blanc Resources Inc. (TSX-V: MTN)
(the "Company") announces that it has completed a flow-through private placement
announced on August 21, 2006. The Company has issued 717,831 Units at $0.45 per
Unit for gross proceeds of $323,024. Each Unit consists of one flow-through common
share and one share purchase warrant. Each Warrant entitles the holder to acquire one
non-flow-through common share, at a price of $0.60 per share until April 17, 2007 and at
a price of $1.00 per share from April 18, 2007 until April 17, 2008. The shares, and any
shares issued on exercise of the Warrants, are subject to a hold period until February 18,
2007. Cash payments totaling $7,882 were paid as finder's fees.
Proceeds of the private placement will be used to finance the drilling exploration program
on the Company's Taber Area Project.
About Mont Blanc
Mont Blanc (www.montblancresources.com) is an oil and gas exploration company focused on participating in low to medium risk oil and gas opportunities.
Company Contacts:
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Any statements regarding the company's future financial position, revenues, earnings, plans and objectives are forward-looking statements. Mont Blanc will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian Securities regulatory authorities by Mont Blanc. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents herein.
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