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Mustang Minerals Corp Announces Financing


Thursday, 3 Jan 2013 10:54am EST 

Mustang Minerals Corp announced that it has completed its private placement offering of flow-through common shares and an initial closing of its private placement offering of non-flow-through common shares. Mustang raised aggregate gross proceeds of $ 1,714,650.41 in respect of the placement of an aggregate of 26,379,237 flow-through common shares. Finders' fees of $ 73,952.03 and a total of 1,137,724 finders' warrants were paid to eligible finders in connection with the flow-through offering. Each flow-through share finder's warrant entitles the holder to purchase one common share of the Company at an exercise price of $0.065 per share for a period of 18 months. The gross proceeds of the flow-through share offering will be used for Canadian exploration expenses (within the meaning of the Income Tax Act) which qualify as flow-through mining expenditures for purposes of the Income Tax Act related to the Company's mineral projects in Ontario and Manitoba, Canada. The Company will renounce such Canadian exploration expenses with an effective date of December 31, 2012. The net proceeds from the non-flow-through offering will be used for working capital purposes. 

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18 Dec 2014