By Devika Patel
Knoxville, Tenn., Dec. 12 - Mustang Minerals Corp. said it will undertake a non-brokered private placement of shares to raise C$2.55 million.
The company plans to sell up to 3 million flow-through shares at C$0.65 each for C$1.95 million and up to 1 million common shares at C$0.60 apiece for C$600,000.
Proceeds will be used for exploration and working capital purposes.
Toronto-based Mustang Minerals explores for and develops mineral properties.
| Issuer: | Mustang Minerals Corp.
|
| Issue: | Common shares, flow-through shares
|
| Amount: | C$2.55 million
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 12
|
| Stock symbol: | TSX Venture: MUM
|
| Stock price: | C$0.60 at close Dec. 11
|
|
|
| Common shares
|
| Amount: | C$600,000
|
| Shares: | 1 million
|
| Price: | C$0.60
|
|
|
| Flow-through shares
|
| Amount: | C$1.95 million
|
| Shares: | 3 million
|
| Price: | C$0.65
|
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