By Sheri Kasprzak
New York, Dec. 5 - Mustang Minerals Corp. said it wrapped the first tranche of its non-brokered private placement for C$1,016,780.
The company sold 2,259,509 flow-through shares at C$0.45 each.
The offering was first announced Nov. 4 as a C$1 million deal comprised of 2,222,222 flow-through shares at the same price. On Dec. 2, it was increased to a C$1,195,000 deal of 2,655,555 flow-through shares.
Proceeds will be used for Canadian exploration expenses. The rest will be used to advance exploration on the Maskwa/Mayville property in Manitoba and the company's Ontario properties.
Based in Toronto, Mustang is a mineral exploration company.
| Issuer: | Mustang Minerals Corp.
|
| Issue: | Flow-through shares
|
| Amount: | C$1,016,780
|
| Shares: | 2,259,509
|
| Price: | C$0.45
|
| Warrants: | No
|
| Placement agent: | Non-brokered
|
| Pricing date: | Nov. 4
|
| Settlement date: | Dec. 5
|
| Stock price: | C$0.39 at close Nov. 4
|
| Stock price: | C$0.365 at close Dec. 2
|
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