Hunter Bay Minerals plc (HBY.V) has increased its private placement offering previously announced on January 3, 2013 from 10,000,000 units to 12,500,000 units at a price of $0.10 per unit for gross proceeds of $1.25 million.
Hunter Bay closed an initial tranche of 5,000,000 units on January 15, 2013 and anticipates that it will close the balance of the private placement offering shortly.
Proceeds will be used to fund Hunter Bay's exploration program on its Sela Creek Project as well as for general working capital and corporate purposes.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
