Mustang Announces Closing of Second 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 22, 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 and July 9, 2025, it has closed the second tranche (the "Second Tranche") of its previously announced $3,000,000 non-brokered private placement (the "Offering"), which Second Tranche consisted of aggregate gross proceeds of C$976,843.40, pursuant to which it sold the following:
125,000 non-flow through units (each, a "NFT Unit") at a price of C$0.14 per NFT Unit for gross proceeds of C$17,500.00 from the sale of the NFT Units;
814,200 Flow Through Units (each, a "FT Unit") at a price of C$0.165 per FT Unit for gross proceeds of C$134,343.00 from the sale of the FT Units; and
3,510,640 FT Units sold to charitable purchasers (each, a "Charity FT Unit") at a price of C$0.235 per Charity FT Unit for gross proceeds of C$825,000.40 from the sale of the Charity FT Units.
The NFT Units, FT Units, and Charity FT Units are hereinafter collectively referred to as the "Offered Securities".
Each NFT Unit consists of one (1) common share in the capital of the Company (each, a "Share") and one Share purchase warrant (each, a "Warrant") and each FT Unit and Charity 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 for a period of 36 months following the issue date of the Offered Securities.
Each ...
