By Sheri Kasprzak
Atlanta, Jan. 5 - Mustang Minerals Corp. said it has wrapped an oversubscribed, non-brokered private placement for C$1,327,934.
The company sold 3,124,550 units at C$0.425 each to accredited investors.
The units are comprised of one flow-through share and one half-share warrant. The whole warrants allow for an additional share at C$0.60 each for two years.
On Dec. 16, the company announced its plans to raise up to C$1.275 million in the offering, which included 3 million flow-through units.
Based in Toronto, Mustang is a mineral exploration and development company. It plans to use the proceeds from the offering to finance exploration drilling at the Maskwa nickel project in Manitoba and the Bannockburn and Manchester nickel projects in Ontario.
| Issuer: | Mustang Minerals Corp.
|
| Issue: | Units of one flow-through share and one half-share warrant
|
| Amount: | C$1,327,934
|
| Units: | 3,124,500
|
| Price: | C$0.425
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.60
|
| Announcement date: | Dec. 16
|
| Settlement date: | Jan. 5
|
| Stock price: | C$0.35 at close Dec. 16
|
| Stock price: | C$0.34 at close Jan. 4
|
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