Mustang Closes First Tranche of Non-Brokered Private Placement Successfully
Mustang Energy Corp. Secures Initial Funding in $3 Million Private Placement
Company Closes First Tranche of Financing
VANCOUVER, British Columbia, July 9, 2025 — Mustang Energy Corp. (CSE: MEC, OTC: MECPF, FRA: 92T) has successfully completed the first tranche of its previously announced $3 million non-brokered private placement, as detailed in its June 24, 2025 news release. This initial tranche has generated gross proceeds of C$1,172,292.99.
Details of the Offering
The financing involved the sale of 1,980,000 non-flow through units (NFT Units) priced at C$0.14 each, raising C$277,200. Additionally, the company sold 5,424,806 flow-through units (FT Units) at a price of $0.165 each, yielding gross proceeds of $895,092.99. Collectively, these units are referred to as the “Offered Securities.”
Each NFT Unit comprises one common share and one share purchase warrant, while each FT Unit consists of a flow-through share and a warrant. The warrants allow holders to purchase one non-flow through share at a price of C$0.21 for a period of 36 months from the issuance date.
Strategic Use of Funds
Nicholas Luksha, CEO of Mustang, expressed enthusiasm about the successful closing of this financing round. He noted that the funds will enable the company to engage contractors necessary for executing its phase one work plan, aimed at identifying multiple prospective drill targets.
The proceeds from the initial tranche will primarily be allocated towards exploring the company’s uranium projects located in the Athabasca Basin in Saskatchewan, along with general working capital needs. The gross proceeds from the FT Shares will be directed towards resource exploration expenses, qualifying as “Canadian exploration expenses” under the Income Tax Act (Canada).
Upcoming Tranche and Finder’s Fees
Mustang Energy plans to initiate a second tranche for the remaining amount of the offering in the upcoming weeks. In connection with the initial tranche, the company has compensated Red Cloud Securities Inc. with finder’s fees totaling $79,875.46 in cash and 571,312 share purchase warrants. Haywood Securities Inc. received $784 in cash and 5,600 Finder’s Warrants, while Canaccord Genuity Corp. and Leede Financial Corp. received cash finder’s fees of $350 and $1,051.05, respectively.
Important Regulatory Information
This announcement does not constitute an offer to sell or a solicitation to buy any securities in the United States. The securities have not been registered under the U.S. Securities Act of 1933 and cannot be offered or sold in the U.S. or to U.S. persons unless registered or an exemption is available.
About Mustang Energy Corp.
Mustang Energy is dedicated to exploring and developing high-potential uranium and critical mineral assets. The company is actively engaged in its properties in Northern Saskatchewan, holding a total of 77,318 hectares in the Athabasca Basin. Its flagship Ford Lake property spans 7,743 hectares, while other projects like Cigar Lake East and Roughrider South cover an additional 3,442 hectares.
Contact Information
For more details, please reach out to:
Mustang Energy Corp.
Attention: Nicholas Luksha, CEO and Director
Phone: (604) 838-0184
Forward-Looking Statements
This release contains forward-looking statements that are not historical facts. These statements involve risks and uncertainties that could cause actual results to differ significantly from those anticipated. The company believes that the expectations reflected in these statements are reasonable but cannot guarantee their accuracy.
The Canadian Securities Exchange and its regulators do not accept responsibility for the accuracy or adequacy of this release.
