Mustang Energy Closes Second Tranche of Private Placement Funding
Mustang Energy Corp. Completes Second Tranche of $3 Million Private Placement
Overview of the Private Placement
VANCOUVER, British Columbia, July 22, 2025 (GLOBE NEWSWIRE) – Mustang Energy Corp. (CSE: MEC, OTC: MECPF, FRA: 92T) is excited to announce the successful closure of the second tranche of its previously disclosed $3 million non-brokered private placement. This tranche has generated gross proceeds totaling C$976,843.40.
Details of the Offering
The second tranche included the following securities sold:
- Non-Flow Through Units (NFT Units): 125,000 units were sold at C$0.14 each, yielding gross proceeds of C$17,500.
- Flow Through Units (FT Units): 814,200 units were sold at C$0.165 each, bringing in C$134,343.
- Charity Flow Through Units (Charity FT Units): 3,510,640 units were sold to charitable buyers at C$0.235 each, resulting in gross proceeds of C$825,000.40.
Collectively, these securities are referred to as the “Offered Securities.”
Structure of the Offered Securities
Each NFT Unit comprises one common share and one share purchase warrant. The FT Units and Charity FT Units consist of one flow-through share and one 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 following the issuance of the Offered Securities.
The flow-through shares will be classified under the Income Tax Act (Canada) and are intended for resource exploration expenses, which will be renounced to purchasers by December 31, 2025.
Use of Proceeds
Mustang Energy plans to allocate the proceeds from this tranche toward the exploration of its uranium projects located in Saskatchewan’s Athabasca Basin, in addition to general working capital needs. The funds raised from the issuance of flow-through shares will specifically be used to incur Canadian exploration expenses.
Finder’s Fees and Compensation
In relation to the second tranche, Mustang Energy compensated Red Cloud Securities Inc. with C$62,440.48 in cash and 281,599 finder’s warrants. Research Capital Corporation received C$4,713.10 in cash along with 29,890 finder’s warrants. Each finder’s warrant can be exercised into one share at a price of C$0.175 until July 22, 2028, and is also subject to a hold period expiring on November 23, 2025. Additionally, Raymond James Ltd. received a cash finder’s fee of C$1,225.46.
Important Notice
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 within the U.S. or to U.S. persons unless registered or an exemption is available.
About Mustang Energy Corp.
Mustang Energy Corp. is a Canadian mineral exploration firm dedicated to discovering and developing high-potential uranium and critical mineral assets. The company holds a strategic portfolio of 147,153 hectares in Saskatchewan’s Athabasca Basin, recognized as one of the leading uranium districts globally. Mustang employs modern exploration techniques and a disciplined, data-driven approach to advance its projects, aiming to create long-term value through responsible exploration.
Contact Information
For further inquiries, please reach out to:
Mustang Energy Corp.
Attention: Nicholas Luksha, CEO and Director
Phone: (604) 838-0184
Forward-Looking Statements Disclaimer
This release contains forward-looking statements as defined under Canadian securities legislation, which are not historical facts. These statements involve risks and uncertainties that could cause actual results to differ materially. While Mustang Energy believes these expectations are reasonable, there is no guarantee they will be met. The company disclaims any obligation to update or revise forward-looking statements unless required by law.
Regulatory Notice
Neither the Canadian Securities Exchange nor the Market Regulator accepts responsibility for the adequacy or accuracy of this release.
