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Mustang Minerals Corp

Published : December 08th, 2009

Increases Private Placement Financing and Closes First Tranches

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Keywords :   Canada | Nickel |

 
 
Mustang Minerals Corp.
TSX VENTURE: MUM
Other Recent News

December 8, 2009
Mustang Increases Private Placement Financing and Closes First Tranches
TORONTO, ONTARIO--(Marketwire - Dec. 8, 2009) - Mustang Minerals Corp. (TSX VENTURE:MUM) is pleased to announce that it has increased the size of its private placement offering to up to $1.5 million and closed two tranches of the offering. The first closings comprised an aggregate placement of 9,753,499 flow-through common shares at 13 cents per flow-through common share, raising aggregate proceeds of $1,267,955.

Mustang raised $700,505 in respect of the placement of 5.38 million flow-through common shares which were issued on Nov. 25, 2009. An additional $ 567,450 was raised in respect of the aggregate placement of 4.36 million flow-through common shares which were issued on December 4, 2009.

Robin Dunbar President of Mustang said "We are very pleased with the support shown by the investors in these placements. Mustang has an exciting exploration program shaping up for 2010".

The expanded offering consists of up to 11,538,461 flow-through common shares at 13 cents per flow-through common share.

The proceeds raised under the offering will be used for Canadian exploration expenses (within the meaning of the Income Tax Act) which qualify as "flow-through mining expenditures" for purposes of the act related to the corporation's exploration projects in Ontario and Manitoba, Canada. The corporation will renounce such Canadian exploration expenses with an effective date of December 31, 2009.

The offering is subject to final approval of the TSX Venture Exchange.

To find out more about Mustang Minerals Corp. (TSX-V: MUM) visit our website at www.mustangminerals.com.

We seek safe harbour.

This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario) (together, "forward-looking statements"). Such forward-looking statements may include the Company's plans for its mineral projects in Manitoba, the overall economic potential of its properties, the availability of adequate financing and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward-looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to potential political risk, uncertainty of production and capital costs estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, currency fluctuations, fluctuations in the price of nickel and other metals, completion of economic evaluations, changes in project parameters as plans continue to be refined, the inability or failure to obtain adequate financing on a timely basis, and other risks and uncertainties, including those described in the Company's Management Discussion and Analysis for the most recent financial period and Material Change Reports filed with the Canadian Securities Administrators and available at www.sedar.com.

Shares Outstanding: 90,981,738

CONTACT INFORMATION:

Mustang Minerals Corp.
David Black
Investor Relations
416-955-4773
info@mustangminerals.com

INDUSTRY: Manufacturing and Production - Mining and Metals


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Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Mustang Minerals Corp
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CODE : MUM.V
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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.
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Financings of Mustang Minerals Corp
1/24/2013Announces Completion of Additional Financing and 2013 Strate...
1/23/2012Completes Financing With Western Areas 7500m Drill Program U...
1/6/2012Completes Flow Through Financing
1/11/2010Completes Private Placement
12/8/2009Increases Private Placement Financing and Closes First Tranc...
11/6/2009Announces Non-Brokered Private Placement
Project news of Mustang Minerals Corp
2/20/2013(Mayville)Announces Increase to Mayville Resource
11/7/2012(Mayville)Provides Update on Mayville Drilling
9/12/2012(Mayville)Drilling at Mayville Property
6/14/2012(Mayville)Intersects Higher Grade Zone of Copper-Nickel-PGM Mineraliza...
5/17/2012(Mayville)Drilling Update-Mayville Project
6/2/2011(Mayville)Drill Program Resumes at Mayville Property
5/5/2011Drills 9=2E1 Meters of 3=2E9 g/t Platinum-Palladium Strike L...
4/6/2011(Mayville)Completes Additional Holes at New PGM Zone
3/23/2011MUSTANG MINERALS ANNOUNCES NEW PLATINUM AND PALLADIUM DISCOV...
3/22/2011Announces New Platinum and Palladium Discovery in Manitoba
12/1/2010(Mayville)s Exploration at Mayville/Tanco Properties
7/13/2010(Mayville)Exploration Deal With Tantalum Mining Corporation of Canada
3/22/2010(Makwa)Updates Project Economics at Makwa Nickel Project
2/17/2010(Makwa)Makwa Nickel Project Update
9/1/2009(Makwa)Advances its Maskwa Nickel Project
6/22/2009(East Bull Lake)Western Areas-Mustang JV Commences Drilling at East Bull Lak...
3/2/2009(Makwa)Completing Drilling at Manitoba Nickel Project
1/22/2009(Makwa)Provides Update on Maskwa Nickel Project Feasibility Study
12/1/2008(Makwa)Provides Update at Maskwa Nickel Project Feasibility Study
9/12/2008(East Bull Lake)and Western Areas Sign Agreement for Joint Venture at East B...
7/3/2008(East Bull Lake)New PGM+Ni+Cu Mineralization Drilled at East Bull Lake, Onta...
6/26/2008(Makwa)Mustang Tables Positive Prefeasibility for Maskwa Nickel Pro...
5/12/2008(East Bull Lake Pgm)Drilling at East Bull
5/9/2008(Makwa) Reports Positive Results From Prefeasibility Study at Maskw...
4/23/2008(Makwa)Tests Chromite Horizon at Maskwa Property
3/3/2008(Makwa)Drill Update at Maskwa North and Maskwa West
Corporate news of Mustang Minerals Corp
10/20/2015Board Resignation
12/10/2012(Mayville)Extends Mayville Cu-Ni Deposit Mineralization to the East
7/17/2012(Mayville)Drilling Extends Copper Nickel Mineralization to Depth at Ma...
3/5/2012Provides Exploration Update Continuesto Intersect PGM Minera...
12/1/2011(Mayville)Announces Mayville Exploration-Financing
9/9/2011: Corporate Update
3/3/2011(Mayville)Drills New Surface Zone of CopperNickel Mineralization at th...
4/15/2010Expands Resources in Project Area
11/19/2009and Sagkeeng First Nation Conclude Memorandum of Understandi...
9/18/2009AGM, September 22
10/1/2008Visit Our Booth This Weekend
8/5/2008Builds Project Development Team
7/17/2008 Closing of Oversubscribed, Increased Financing
7/16/2008Announces Increase to Brokered Financing
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TSX-V (MUM.V)Other OTC (MSMGF)
0.175-2.78%0.048-4.00%
TSX-V
CA$ 0.175
06/07 13:54 -0.010
-2.78%
Prev close Open
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0.175 0.195
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.175 -%
Volume 1 month var.
24,600 -%
24hGold TrendPower© : -31
Produces
Develops Cobalt - Copper - Nickel - Palladium - Platinum
Explores for Cobalt - Copper - Gold - Nickel - Palladium - Platinum - Rhodium
 
 
 
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