Mustang Completes Flow Through Financing
Mustang Minerals Corp. (TSX VENTURE:MUM)(FRANKFURT:NJF) ("Mustang" or the "Company") today announced it has completed a second closing of a non-brokered private placement financing (the "Offering"). The Company issued 14,358,498 flowthrough shares at a price of $0.12 per share for gross proceeds of $1,723,019.76. The Company has paid eligible finders fees of $134,961.58 and issued 1,123,013 broker warrants pursuant to the second closing. To date the Company has in aggregate issued 31,475,931 flowthrough shares for gross proceeds of $3,777,111.76. Western Areas NL will subscribe for a portion of the concurrent common share offering. Mustang President Robin Dunbar commented that "the Company is looking ahead to completing follow up exploration on some of the exploration targets generated to date particularly at its Mayville Property. The PGM Zone at Mayville will be a priority along with the M2 Zone at depth. We continued to be encouraged by the potential of the Mayville intrusion for future discovery of copper nickel and platinum group metals." Carey Galeschuk P.Geo. is the National Instrument 43-101 Qualified Person for Mustang Minerals Corp.
Mustang is a nickel and copper exploration company based in Canada.
Mustang develops nickel, copper, cobalt, palladium and platinum in Canada, and holds various exploration projects in Canada.
Its main asset in development is MAKWA in Canada and its main exploration properties are RIVER VALLEY PGM, EAST BULL LAKE, TILLICUM CLAIMS, RIVER VALLEY PGM and MAYVILLE in Canada.