Mustang Announces Private Placement of Up to $1,200,000

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, British Columbia, Feb. 07, 2025 (GLOBE NEWSWIRE) -- Mustang Energy Corp. (CSE: MEC, OTC: MECPF, FRA: 92T) (“Mustang” or the “Company”) is pleased to announce a non-brokered private placement consisting of up to 6,000,000 units of the Company (each, a “Unit”), at a price of $0.20 per Unit, for gross proceeds of up to $1,200,000 (the “LIFE Offering”).

Each Unit will consist of one (1) common share in the capital of the Company (each, a “Common Share”) and one (1) Common Share purchase warrant (each, a “Warrant”). Each Warrant will be exercisable into one (1) Common Share (each, a “Warrant Share”, and collectively with the Common Shares and Warrants, the “Securities”) at a price of $0.27 per Warrant Share for a period of eight (8) months following the date of issuance.

There is an offering document (the “Offering Document”) related to the LIFE Offering that can be accessed under the Company’s profile at www.sedarplus.ca and on the Company’s website at www.mustangenergy.ca. Prospective investors should read the Offering Document before making an investment decision.

As disclosed in the Offering Document, the Company intends to use the net proceeds from the LIFE Offering for general corporate and administrative expenses, investor relations and communications, and general working capital, which may include exploration expenditures.

The Securities offered as a part of the LIFE Offering shall be offered to purchasers resident in all provinces of Canada, excluding Quebec, pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions (the “Listed Issuer Financing Exemption”). Securities offered under the Listed Issuer Financing Exemption will not be subject to resale restrictions to Canadian resident investors pursuant to applicable Canadian securities laws.

The LIFE Offering is anticipated to close on or about February 21, 2025, or such later date as the Company may determine. The closing is subject to certain conditions including, but not limited to, a minimum of $1,000,000 in gross proceeds being raised by the LIFE Offering and the receipt of all necessary regulatory and other approvals, including the Company’s completion of its filing obligations under the policies of the Canadian Securities Exchange (“CSE”).