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Highlights
- Mustang Energy to raise up to $1.2 million through a non-brokered private placement of 6 million units.
- Each unit consists of a common share and a warrant exercisable at $0.27 for 8 months.
- Proceeds will support general corporate activities, working capital, and exploration expenditures.
Mustang Energy Corp. (CSE:MEC) is pleased to announce a non-brokered private placement (the "LIFE Offering") of up to 6,000,000 units (the “Units”) at a price of $0.20 per Unit, for gross proceeds of up to $1,200,000. The offering is expected to support the Company’s ongoing corporate activities, including exploration initiatives, investor relations, and working capital.
Each Unit will consist of one (1) common share in the capital of the Company (a “Common Share”) and one (1) Common Share purchase warrant (a “Warrant”). Each Warrant will be exercisable to acquire one (1) additional Common Share (a “Warrant Share”) at a price of $0.27 per Warrant Share, for a period of eight (8) months following the date of issuance.
The net proceeds raised through this private placement will be used by Mustang Energy for general corporate and administrative expenses, investor relations, communications, and general working capital, which may include exploration expenditures.
The offering is being conducted in compliance with the Listed Issuer Financing Exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions. This means the securities offered under the LIFE Offering will be available to investors in all provinces of Canada, excluding Quebec, and will not be subject to resale restrictions for Canadian residents, in accordance with applicable Canadian securities laws.
The LIFE Offering is anticipated to close on or about February 21, 2025, or such later date as the Company may determine, subject to certain conditions. The closing is contingent on raising a minimum of $1,000,000 in gross proceeds and obtaining all necessary regulatory and other approvals, including the completion of Mustang Energy’s filing obligations with the Canadian Securities Exchange (CSE).
