By Devika Patel
Knoxville, Tenn., Jan. 8 - Mustang Minerals Corp. said it has completed the flow-through portion of a non-brokered private placement of shares, raising C$2.28 million. The deal priced for C$2.55 million on Dec. 12.
The company planned to sell up to 3 million flow-through shares at C$0.65 each for C$1.95 million but ended up selling 3,513,667 flow-through shares at that price.
It also plans to sell up to 1 million common shares at C$0.60 apiece for C$600,000.
Proceeds will be used for exploration and working capital.
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$2,283,883
|
| Shares: | 3,513,667
|
| Price: | C$0.65
|
| Settlement date: | Jan. 8
|
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