By Sheri Kasprzak
New York, Dec. 2 - Mustang Minerals Corp. said it has completed its previously announced private placement after the exercise of an over-allotment option, which lifted total proceeds to C$1.75 million.
The company issued 3,888,889 flow-through shares at C$0.45 each. The amount includes C$250,000 exercised as part of an over-allotment option by placement agent Octagon Capital Corp.
Proceeds will be used for exploration on the company's Canadian properties.
Separately, the company has increased to C$1,195,000 its previously announced C$1 million non-brokered placement.
The non-brokered deal now includes 2,655,555 flow-through shares at C$0.45 each.
The two offerings were first announced Nov. 4. The brokered deal had originally called for the sale of 3,333,333 flow-through shares and the non-brokered deal for 2,222,222 flow-through shares at the same price.
Based in Toronto, Mustang is a mineral exploration company.
Brokered offering
| Issuer: | Mustang Minerals Corp.
|
| Issue: | Flow-through shares
|
| Amount: | C$1.75 million (includes greenshoe for C$250,000)
|
| Shares: | 3,888,889
|
| Price: | C$0.45
|
| Warrants: | No
|
| Placement agents: | Octagon Capital Corp. (lead)
|
| Pricing date: | Nov. 4
|
| Settlement date: | Dec. 2
|
| Stock price: | C$0.39 at close Nov. 4
|
| Stock price: | C$0.355 at close Dec. 1
|
|
|
| Non-brokered offering
|
| Issuer: | Mustang Minerals Corp.
|
| Issue: | Flow-through shares
|
| Amount: | C$1,195,000
|
| Shares: | 2,655,555
|
| Price: | C$0.45
|
| Warrants: | No
|
| Placement agent: | Non-brokered
|
| Pricing date: | Nov. 4
|
| Upsized: | Dec. 2
|
| Stock price: | C$0.39 at close Nov. 4
|
| Stock price: | C$0.355 at close Dec. 1
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
