(1888PressRelease) June 23, 2011 - Mill Bay Ventures Inc. has arranged a non-brokered private placement consisting of up to 13,333,333 units of the company at a price of 15 cents per unit for gross proceeds of up to $2-milion. Each unit shall consist of one common share and one common share purchase warrant, each whole warrant entitling the holder thereof to purchase one additional common share at an exercise price of 25 cents for a period of two years from the date of issuance..
The company may pay a finder's fee to certain parties in respect to the private placement in accordance with securities legislation and TSX Venture Exchange policies. The private placement is subject to approval by the TSX Venture Exchange.
Proceeds arising from the sale of the units will be used for general working capital purposes and to further explore the AC claims near Battle Mountain, located in Nevada, U.S. (see the company's news release dated June 9, 2011, regarding a gravity survey and controlled source audio magneto-telluric survey on the claims, all of which are available for viewing on the company's website).
See the entire gravity and CSAMT reports on the website under "AC claims". Website: www.millbayventures.com
For further information please contact Darryl Glasier at e-mail: darrylg ( @ ) shaw dot ca
For further information on the the Company`s exploration properties, please visit the Company`s website at http://www.millbayventures.com