Mustang Minerals Financing Announcement
Toronto, Ontario (FSCwire) - Mustang Minerals Corp. (TSXV:MUM) (“Mustang” or the “Company”) today announced completion of the initial tranches of the financing announced November 20, 2014. The Company has placed 1,602,411 shares priced at $0.03 per share (Tranche 1 ) for gross proceeds of $48,072 and a second tranche of 13,433,322 shares priced at $0.015 per share for gross proceeds of $201,500. Gross proceeds of $249,572 have been received to date. The Company plans to complete an additional closing pending approval from the TSXV.
The Company issued a total of $6,545 cash consideration and 436,333 finders shares in conjunction with the Offering. All shares and finders shares issued are subject to a hold period of four months and one day from the date of closing. The offering is being made pursuant to the grant of a discretionary waiver of the TSXV’s minimum $0.05 pricing requirement and is subject to final acceptance by the TSXV.
Mustang has an extensive mineral claim position in the Bird River Greenstone Belt in southeastern Manitoba. Two National Instrument 43-101 compliant deposits have been delineated in the belt by Mustang and a NI 43-101 compliant Preliminary Economic Assessment was completed in 2014. The Company will complete downhole geophysical surveys at its Mayville and Tanco Properties in the first quarter of 2014 to further define priority Ni-Cu-PGM drill targets.
Carey Galeschuk P.Geo. is the National Instrument 43-101 Qualified Person for Mustang Minerals Corp. and has approved the contents of this release.
To find out more about Mustang Minerals Corp. (TSX-V: MUM)
visit our website at www.mustangminerals.com or:
Telephone: 416-955-4773 email: info@mustangminerals.com
We seek safe harbour.
This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario) (together, “forward-looking statements”). Such forward-looking statements may include the Company’s plans for its mineral projects in Manitoba, the overall economic potential of its properties, the availability of adequate financing and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward-looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to potential political risk, uncertainty of production and capital costs estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, currency fluctuations, fluctuations in the price of nickel and other metals, completion of economic evaluations, changes in project parameters as plans continue to be refined, the inability or failure to obtain adequate financing on a timely basis, and other risks and uncertainties, including those described in the Company’s Management Discussion and Analysis for the most recent financial period and Material Change Reports filed with the Canadian Securities Administrators and available at www.sedar.com.
Neither the TSX Venture Exchange nor it Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/mustang01082015.pdf
Source: Mustang Minerals Corp. (TSX Venture:MUM) http://www.mustangminerals.com/
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