New Issue: Mustang seals C$1.73 million placement of stock with C$457,144 tranche

By Devika Patel

Knoxville, Tenn., Jan. 11 - Mustang Minerals Corp. said it raised C$1.73 million in a non-brokered private placement of stock. The deal priced Nov. 5 and was increased to C$1.5 million from C$1 million on Dec. 8; the company raised C$1.27 million in the first two tranches on Nov. 25 and Dec. 4 and C$457,144 on Dec. 31.

The company sold 13,269,995 flow-through common shares at C$0.13 per share.

Mustang raised C$700,505 by selling 5.38 million shares on Nov. 25. An additional C$567,450 was raised on Dec. 4 when the company sold 4.36 million shares. It sold 3.52 million shares in the Dec. 31 tranche.

Proceeds will be used for exploration and development.

Toronto-based Mustang Minerals explores for and develops mineral properties.

Issuer:	Mustang Minerals Corp.
Issue:	Flow-through common shares
Amount:	C$1,725,099
Shares:	13,269,995
Price:	C$0.13
Warrants:	No
Agent:	Non-brokered
Pricing date:	Nov. 5
Upsized:	Dec. 8
Settlement date:	Nov. 25 (for C$700,505), Dec. 4 (for C$567,450), Dec. 31 (for C$457,144)
Stock symbol:	TSX Venture: MUM
Stock price:	C$0.13 at close Nov. 5
Market capitalization:	C$11.4 million

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