By Devika Patel
Knoxville, Tenn., July 16 - Mustang Minerals Corp. said it is increasing a private placement of stock to C$4 million. The deal priced for C$3 million with a C$450,000 greenshoe on July 3.
The company still plans to sell the flow-through shares at C$0.44 per share for C$3 million, but has increased the size of the over-allotment option.
Research Capital Corp., the lead agent, now has a greenshoe for C$1 million, increased from the original C$450,000.
Proceeds will be used for development.
Toronto-based Mustang Minerals explores for and develops mineral properties.
| Issuer: | Mustang Minerals Corp.
|
| Issue: | Flow-through common shares
|
| Amount: | C$3 million
|
| Greenshoe: | C$1,000,040
|
| Price: | C$0.44
|
| Warrants: | No
|
| Agent: | Research Capital Corp. (lead)
|
| Pricing date: | July 3
|
| Upsized: | July 16
|
| Stock symbol: | TSX Venture: MUM
|
| Stock price: | C$0.38 at close July 3
|
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