Offering funds exploration at Mayville Property and feasibility study
By Devika Patel
Knoxville, Tenn., Jan. 5 - Mustang Minerals Corp. said it took in C$1.72 million in the second tranche of a C$4.8 million non-brokered private placement of stock. The deal priced on Dec. 1 and raised C$2.05 million on Dec. 23.
The company is selling flow-through common shares at C$0.12 apiece and common shares at C$0.10 apiece. The prices per share are a 20% premium and identical, respectively, to C$0.10, the Nov. 30 closing share price.
Mustang Minerals sold 17,117,433 flow-through shares in the first closing and 14,358,498 flow-through shares in the second tranche.
Western Areas NL will participate in the non flow-through portion of the deal.
Proceeds will be used primarily for the Makwa Nickel Project feasibility study and exploration at the company's Mayville Property.
Mustang Minerals is a nickel, copper and platinum mining company based in Toronto.
| Issuer: | Mustang Minerals Corp.
|
| Issue: | Flow-through common shares, common shares
|
| Amount: | C$4.8 million
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Investor: | Western Areas NL
|
| Pricing date: | Dec. 1
|
| Settlement date: | Dec. 23 (for C$2,054,092), Jan. 5 (for C$1,723,020)
|
| Stock symbol: | TSX Venture: MUM
|
| Stock price: | C$0.10 at close Nov. 30
|
| Market capitalization: | C$15.75 million
|
|
|
| Flow-through stock
|
| Price: | C$0.12
|
|
|
| Common stock
|
| Price: | C$0.10
|
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