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Mooncor Announces Final Closing of $1.156 Million Non-Brokered Unit Financing
APRIL 16, 2009 - Calgary, Alberta – Mooncor Oil & Gas Corp. (“Mooncor”) is pleased to announce that it has completed the final tranche of its non-brokered private placement financing by issuing 1,650,000 common share units ("Units") at a price of $0.20 per Unit for aggregate gross proceeds of $330,000. Each Unit consists of one common share ("Common Share") in the capital of Mooncor and one-half of one common share purchase warrant ("Warrant"). Each whole Warrant entitles the holder thereof to acquire one Common Share at an exercise price of $0.35 per share until April 16, 2011. All securities issued pursuant to the financing are subject to a four-month hold period.
The total amount raised by Mooncor pursuant to the non-brokered financing is $1,156,000 through the issuance of 5,780,000 Units.
The net proceeds will be used by Mooncor for exploration on its oil and gas properties, working capital and property acquisitions.
Including the issuance of shares detailed in this news release, there are currently 91,725,838 Common Shares issued and outstanding.
In connection with the financing, Wellington West Capital Inc. received a cash commission of $16,000 and 100,000 finder's warrants (Wellington did not receive a cash commission of $18,000 and 50,000 finder's warrants in connection with the first closing as disclosed in Mooncor's press release dated April 9, 2009), Granite Associates Ltd. received a cash commission of $4,800 and 30,000 finder's warrants, and Haywood Securities Inc. received a cash commission of $5,600 and 35,000 finder's warrants. Each finder's warrant entitles the holder thereof to acquire one Unit at an exercise price of $0.20 per Unit until April 16, 2011.
Business of Mooncor Oil & Gas Corp.
Mooncor Oil & Gas Corp. is a junior oil and gas exploration and development company with unconventional shale gas, light oil and heavy oil projects in Saskatchewan, Alberta and South Western Ontario. Mooncor is focusing on its shale gas opportunities with a current emphasis on its high impact proven shale gas play in the Western Canadian Sedimentary Basin.
For more information please contact:
Richard Cohen
Mooncor Oil and Gas Corp.
Vice-President (Corporate Development)
Tel: (905) 882-4422
rcohen@mooncor.com
Jason Monaco
First Canadian Capital Corp.
Tel: (416) 742-5600
jmonaco@firstcanadiancapital.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. |
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November 05, 2009:
Mooncor Clarifies Update On Hamburg Initiative | October 20, 2009:
Mooncor Provides Update on Macquarie Tristone Process | September 29, 2009:
Mooncor announces final closing of $1.83 million non-brokered financing | April 30, 2009:
Mooncor Announces 2008 Financial, Operating and Reserves Results for Oil and Gas Activities | April 29, 2009:
Mooncor Announces Acquisition of Additional Acreage in Hamburg Area at Public Offering of Crown Petroleum and Natural Gas Rights | April 29, 2009:
Pinetree Capital Ltd. Acquires Securities of Mooncor Oil & Gas Corp. | April 17, 2009:
Mooncor Announces Preliminary Shale Gas Test Results From Its Southeast Extension Of The Horn River Basin At Hamburg, Alberta | April 16, 2009:
Mooncor Announces Final Closing of $1.156 Million Non-Brokered Unit Financing |
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