Business
Mystique Energy Announces $3.2 Million Financing
Mystique Energy Announces $3.2 Million Financing.
About this update from Abrasilver Resource Corp.
[{"type":"text","content":"\n\n\n\n\nTSX-Venture Exchange: MYS\n\nCALGARY, June 26 /CNW/ - Mystique Energy Inc. (TSX-V: MYS) (\"Mystique\")\nannounces that it intends to offer for sale, up to 7.5 million flow-through\ncommon shares at $0.43 per share, by way of a private placement, for gross\nproceeds of $3.225 million. Mystique will renounce Canadian Exploration\nExpenses to subscribers who will be entitled to claim deductions for income\ntax purposes in the 2006 taxation year equal to 100% of their subscription\namount. The private placement will be offered on a best efforts basis by\nAcumen Capital Finance Partners Limited. Acumen has an option exercisable\nprior to closing, to increase the size of the financing by a further 2.5\nmillion flow-through shares for additional gross proceeds of $1.075 million.\nClosing of the financing is expected to occur on or about July 13, 2006 and is\nsubject to the normal regulatory approvals.\nProceeds of the financing will be used to fund Mystique's continuing\ndrilling program on its farm-in lands in the\nHarmattan/Lochend/Bottrell/Wildcat Hills areas which are located northwest of\nCalgary. Mystique is planning to drill 22 wells during 2006 with the drilling\nrig that it presently has under contract, and a second rig that is expected to\nbe contracted to start drilling in late July. Presently, the fifth well of the\n2006 program is being drilled; the first four wells have been cased. Of these\nfour wells, one is on production and the other three are being completed.\nPrior to the 2006 program, from late 2004 to the end of 2005, Mystique has\ndrilled nine successful wells in these areas, six of which are on production,\none is waiting on a flowline tie-in and two are waiting on\ncompletion/recompletion operations.\n\nBased in Calgary, Mystique is a growing company engaged in the\nexploration and exploitation of petroleum reserves in western Canada.\n\nThe TSX Venture Exchange does not accept responsibility for the adequacy\nof this release.\n\n%SEDAR: 00001147E\n\n\n","length":2048,"tagName":"div"}]