By Sheri Kasprzak
New York, Nov. 4 - Mustang Minerals Corp. said it has arranged a private placement of flow-through shares for up to C$1.5 million.
The offering will include up to 3,333,333 flow-through shares at C$0.45 each.
A syndicate of placement agents led by Octagon Capital Corp. has an over-allotment option for up to C$250,000 in additional shares.
Mustang said it also plans to conduct a non-brokered offering for up to C$1 million at the same price.
Proceeds will be used for exploration on the company's Canadian properties.
Based in Toronto, Mustang is a mineral exploration company.
Brokered offering
| Issuer: | Mustang Minerals Corp.
|
| Issue: | Flow-through shares
|
| Amount: | C$1.5 million (maximum)
|
| Greenshoe: | For up to C$250,000
|
| Shares: | 3,333,333 (maximum)
|
| Price: | C$0.45
|
| Warrants: | No
|
| Placement agents: | Octagon Capital Corp. (lead)
|
| Pricing date: | Nov. 4
|
| Stock price: | C$0.37 at close Nov. 3
|
|
|
| Non-brokered offering
|
| Issuer: | Mustang Minerals Corp.
|
| Issue: | Flow-through shares
|
| Amount: | C$1 million (maximum)
|
| Shares: | 2,222,222 (maximum)
|
| Price: | C$0.45
|
| Warrants: | No
|
| Placement agent: | Non-brokered
|
| Pricing date: | Nov. 4
|
| Stock price: | C$0.37 at close Nov. 3
|
|
|
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