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Mustang Minerals Corp Announces Completion Of Additional Financing With Western Areas Ltd

Thursday, 24 Jan 2013 06:00am EST 

Mustang Minerals Corp announced that it completed an additional tranche of its private placement with Western Areas Limited. On January 3, 2013, Mustang announced completion of the first tranche of the private placement, raising aggregate proceeds $1,720,650 from the placement of 26,379,237 flow-through common shares and 100,000 common shares. Western Areas has subscribed for a total of 5,000,000 common shares of Mustang at an issue price of $0.06 per share. Western Areas is the shareholder in Mustang and after completing the placement will hold a 19% equity interest in the Company. The shares issued to Western Areas are subject to a four month hold period. The proceeds from the recent capital raisings are planned to be used to finance Mustang's exploration and potential early development activities, particularly around the 100% owned Mayville Copper/Nickel/PGE deposit in Manitoba. 

Company Quote

0.0050 +50.00%
24 Dec 2014