Business

Mustang Announces Closing of First Tranche of Non-Brokered Private Placement

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, British Columbia, July 09, 2025 (GLOBE NEWSWIRE) -- Mustang Energy Corp. (CSE: MEC, OTC: MECPF, FRA: 92T) (“Mustang” or the “Company”) is pleased to announce that, further to its news release dated June 24, 2025, it has closed an initial tranche (the “Initial Tranche”) of its previously announced $3,000,000 non-brokered private placement (the “Offering”), which Initial Tranche consisted

articleMustang Energy CorpJuly 9, 20254/company/mustang-energy-corp/news/mustang-announces-closing-of-first-tranche-of-non-brokered-private-placement
Mustang Announces Closing of First Tranche of Non-Brokered Private Placement

About this update from Mustang Energy Corp

[{"type":"image","alt":"Mustang Energy Corp.","displaySize":"","headline":null,"caption":"Mustang Energy Corp.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":70,"url":"https://media.zenfs.com/en/globenewswire.com/e8382b1eb648867ac0d18137d0dcc293"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/VU3BjoP8Q7_pH6q2cevulw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTk4O2NmPXdlYnA-/https://media.zenfs.com/en/globenewswire.com/e8382b1eb648867ac0d18137d0dcc293","width":300,"height":70}},"lazy":false},{"type":"text","content":"NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES","length":99,"tagName":"p"},{"type":"text","content":"VANCOUVER, British Columbia, July 09, 2025 (GLOBE NEWSWIRE) -- Mustang Energy Corp. (CSE: MEC, OTC: MECPF, FRA: 92T) (“Mustang” or the “Company”) is pleased to announce that, further to its news release dated June 24, 2025, it has closed an initial tranche (the “Initial Tranche”) of its previously announced $3,000,000 non-brokered private placement (the “Offering”), which Initial Tranche consisted of aggregate gross proceeds of C$1,172,292.99, pursuant to which it sold the following:","length":488,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"1,980,000 non-flow through units in the capital of the Company (each, a “NFT Unit”) at a price of C$0.14 per NFT Unit for gross proceeds of C$277,200 from the sale of the NFT Units; and","length":185,"tagName":"p"}]},{"val":[{"type":"text","content":"5,424,806 Flow Through Units in the capital of the Company (each, a “FT Unit”) at a price of $0.165 per FT Unit for gross proceeds of $895,092.99 from the sale of the FT UnitsEach NFT Unit and FT Unit collectively refer to as the “Offered Securities”).","length":254,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":439,"olType":false},{"type":"text","content":"Each NFT Unit consists of one (1) common share in the capital of the Issuer (each, a “Share”) and one Share purchase warrant (each, a “Warrant”) and each FT Unit consists of one Share to be issued as a “flow-through share” (each, a “FT Share”) within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the “Income Tax Act”) and one Warrant. Each Warrant will entitle the holder thereof to purchase one non-flow through Share (each, a “Warrant Share”) at a price of C$0.21...

More updates from Mustang Energy Corp

Mustanggross proceedsAthabasca BasinThe CompanyTax ActIncome Tax ActMustang Energy CorpNFT UnitCompanyNicholas Luksha