Business
Mustang Announces Closing of Non-Brokered Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, British Columbia, Dec. 31, 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 December 19, 2025, it has closed a non-brokered private placement of 2,000,000 flow-through units (each, a “FT Unit”) of the Company at a price of $0.09 per FT Unit for aggregate gross proceed
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, Dec. 31, 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 December 19, 2025, it has closed a non-brokered private placement of 2,000,000 flow-through units (each, a “FT Unit”) of the Company at a price of $0.09 per FT Unit for aggregate gross proceeds of $180,000 (the “Offering”).","length":432,"tagName":"p"},{"type":"text","content":"Each FT Unit consists of one common share (each, a “Common Share”) in the capital of the Company 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 half of one Common Share purchase warrant (each, a “Warrant”). Each whole Warrant will entitle the holder thereof to purchase one non-flow through Common Share (each, a “Warrant Share”) at a price of C$0.15 for a period of two years following the issue date of the FT Units.","length":533,"tagName":"p"},{"type":"text","content":"Each FT Share is issued as a “flow-through share” within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act”). The Company intends to use the proceeds of the Offering for the exploration of the Company’s uranium projects in the Athabasca Basin in Saskatchewan. The gross proceeds from the issuance of the FT Shares will be used to incur resource exploration expenses which will constitute “Canadian exploration expenses” as defined in subsection 66.1(6) of the Tax Act and “flow through critical mineral mining expenditures” as defined in subsection 127(9) of the Tax Act, which will...