Mustang Announces Closing of Non-brokered Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
MUSTANG ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT
Vancouver, British Columbia, February 21, 2025, Mustang Energy Corp. (CSE: MEC, OTC: MECPF,
FRA: 92T) (“ Mustang” or the “ Company”) is pleased to announce that, further to its news release
dated February 7 , 202 5 and February 1 8, 2025, it has closed its non- brokered private placement
issuing 6,275,000 units (each, a “Unit”) at $0.20 per Unit for gross proceeds of $1,255,000 (the “LIFE
Offering”).
Each Unit consist s 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 is
exercisable into one (1) Common Share (each, a “ Warrant Share”) at a price of $ 0.27 per Warrant
Share until October 21, 2025.
The Company issued an aggregate of 56,000 finder’s warrants (the “ Finder’s Warrants”) to Red
Cloud Securities. The Finder’s Warrants are exercisable at $ 0.27 per Common Share until October
21, 2025 and are subject to a hold period until June 21, 2025.
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 further exploration expenditures.
The Units were sold to purchasers resident in Canada and other qualifying jurisdictions pursuant to
the listed issuer financing exemption under Part 5A of N ational 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 pursuant to applicable Canadian
securities laws.
The securities described herein 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 U.S. state securities laws,
and may not be offered or sold in the United States or to, or for the account or benefit of, United
States’ persons absent registration or an applicable exemption from the registration requirements
of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not
constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in
any other jurisdiction.
About Mustang Energy Corp.
Mustang is a resource exploration company focused on acquiring and developing high- potential
uranium and critical mineral assets. The Company is actively exploring its properties in Northern
Saskatchewan, Canada and holds 77,318 hectares in around the Athabasca Basin. Mustang's flagship
property, Ford Lake, covers 7,743 hectares in the prolific eastern Athabasca Basin, while its Cigar Lake
2
East and Roughrider South projects span 3,442 hectares to the north and the Spur Project to the south
covering 17,929 hectares. Mustang has also established its footprint in the Cluff Lake region of the
Athabasca Basin with the Yellowstone Project (21,820 hectares) and further expanded its presence in
the south central region of the Athabasca Basin with the Dutton Project (7,633 hectares).
On behalf of the board of directors
“Nicholas Luksha”
Nicolas Luksha
CEO and Director
For further information, please contact:
Mustang Energy Corp.
Attention: Nicholas Luksha, CEO and Director
Phone: (604) 838-0184
Forward-Looking Statements Disclaimer
This news release contains forward- looking statements. All statements, other than statements of
historical fact that address activities, events or developments that the Company believes, expects
or anticipates will or may occur in the future are forward -looking statements. Forward -looking
statements in this news release include statements regarding: the intended use of proceeds of the
LIFE Offering. The forward-looking statements reflect management’s current expectations based on
information currently available and are subject to a number of risks and uncertainties that may cause
outcomes to differ materially from those discussed in the forward-looking statements including: that
the proceeds of the LIFE Offering may not be used as stated in this news release and adverse market
conditions and other factors beyond the control of the parties. Although the Company believes that
the assumptions inherent in the forward- looking statements are reasonable, forward -looking
statements are not guarantees of future perfor mance and, accordingly, undue reliance should not
be put on such statements due to their inherent uncertainty. Factors that could cause actual results
or events to differ materially from current expectations include general market conditions and other
factors beyond the control of the Company. The Company expressly disclaims any intention or
obligation to update or revise any forward-looking statements whether as a result of new information,
future events or otherwise, except as required by applicable law. Risks and uncertainties about the
Company's business are more fully discussed in its filings with securities regulatory authorities
available on SEDAR+ at www.sedarplus.ca.
Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in
the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or
accuracy of this release.