Toronto, Ontario--(Newsfile Corp. - May 3, 2023) - Mistango River Resources Inc. (CSE: MIS) ("Mistango" or the "Company") is pleased to announce that it has closed a non-brokered private placement for aggregate proceeds of $1,173,709.73 (the "Offering"). Upon closing of the Offering, the Company issued 14,335,996 flow-through units (the "Flow-Through Units"), at a price of $0.06 per Flow-Through Unit for gross proceeds of $860,159.76, where each Flow-Through Unit consists of one flow-through common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional share of the Company at a price of $0.10 for a period of 24 months from the date of issuance; and 6,967,777 units (the "Hard Dollar Units"), at a price of $0.045 per Hard Dollar Unit, for gross proceeds of $313,549.97, where each Hard Dollar Unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional share of the Company at a price of $0.10 for a period of 24 months from the date of issuance.
Under applicable securities laws in Canada, the common shares and warrants issued as part of the Flow-Through Units and the Hard Dollar Units under this Offering will be subject to a four-month and one-day hold period from the date of closing of the Offering.
In consideration for introducing certain subscribers to the Offering, the Company has paid arms length finders an aggregate of $63,821.19 cash and 1,263,546 finder's warrants. Each finders warrant entitles the holder, on exercise thereof, to purchase one common share at a price of $0.10 for a period of 24 months.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.
About Mistango's Goldie Project
Goldie is located within the Shebandowan Greenstone Belt and covers a 17km strike on the Shebandowan Structural Zone, which also hosts Goldshore Resources Inc's low-grade high-tonnage Moss Lake gold deposit, 50 km to the west. Goldie is also adjacent to Delta Resources Delta-1 Project.
To learn more about Mistango, the Ore Group, and all things mining, please go to our YouTube Chanel: youtube.com/@theoregroup
Mistango is listed on the Canadian Securities Exchange (CSE) under the symbol MIS.
To Speak to the Company directly, please contact:
Stephen Stewart, Chairman
Phone: 416.644.1567
Email: info@oregroup.ca
www.mistango.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release. Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Mistango assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking-statements unless and until required by securities laws applicable to Mistango. Additional information identifying risks and uncertainties is contained in filings by Mistango with Canadian securities regulators, which filings are available under Mistango profile at www.sedar.com.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/164719
