I found this release on Mustang Minerals, and it is the bottom of the release that caught my interest, as they state, news is forthcoming this week, on River Valley and also East Bull Lake, both properties are in Sudbury. My instincts tell me, possibly that the letter of intent that was signed with Impala, may be reality by weeks end.
MMIN 1999-09-09 (provided courtesy of Canadian Corporate News.)
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Mustang Minerals Corp.: Private Placement Completed
TORONTO, ONTARIO--Mustang Minerals Corp. announced today that it
has completed an arm's length private placement of 975,610 units
at forty-one cents ($0.41) per unit for net proceeds of Four
Hundred Thousand Dollars ($400,000.00). An additional 97,561
Units were issued to registered dealers for commission fees. Each
Unit is comprised of one common share plus one half of a share
purchase warrant. Each whole share purchase warrant entitles the
holder to purchase one additional common share at $0.60 per share
for a period of one year from the date of issuance after which the
warrants will expire if not exercised.
Private placements by the company of up to 1,800,000 common shares
(or units consisting of common shares and warrants) were
previously approved by the shareholders of the Company at a
special meeting of shareholders held on March 9, 1999.
After completion of the private placement, the number of issued
and outstanding common shares was increased to 8,445,267 shares.
The net proceeds of $400,000 from the private placement will be
used for working capital and for exploration of the companys' PGE
properties.
Prior to September 17th Mustang will issue a press release
updating the exploration programs at the East Bull Lake PGE
Property and the River Valley PGE Property.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Robin Dunbar - President
120 Adelaide Street West, Suite 514
Toronto, ON M5H 1T1
(416) 955-4773
(416) 368-1539 (FAX)
mustang-gold.com
Email: investors@mustang-gold.com
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