/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES
MOO: TSX Venture Exchange
CALGARY, April 26 /CNW/ - Mooncor Oil & Gas Corp. ("Mooncor") (TSXV:MOO)
is pleased to announce that it has completed a non-brokered private
placement financing by issuing 876,056 common share units ("Units") and
300,000 "flow-through" units ("FT Units") at a price of $0.18 per Unit
and $0.21 per FT Unit for gross proceeds of $220,690. Each Unit
consists of one common share in the capital of Mooncor (a "Common
Share") and one common share purchase warrant (a "Warrant") of Mooncor.
Each FT Unit consists of one flow-through common share of Mooncor and
one-half of one Warrant. Each whole Warrant entitles the holder thereof
to acquire one Common Share at an exercise price of $0.30 per Common
Share until April 26, 2013. Certain officers and directors of Mooncor
subscribed for an aggregate of $29,710 of Units. All securities issued
pursuant to the financing are subject to a four-month hold period.
The net proceeds will be used by Mooncor for exploration on its oil and
gas properties and working capital.
Including the issuance of shares detailed in this news release, there
are currently 121,953,956 Common Shares issued and outstanding.
In connection with the financing, Mooncor paid cash commissions of
$10,948.50, and issued compensation warrants to purchase 57,075 Units
at an exercise price of $0.18 per Unit exercisable until April 26,
2013. Receiving brokers included Wellington West Capital Inc., All
Group Financial Services Inc. and Pope & Company Limited.
Business of Mooncor Oil & Gas Corp.
Mooncor Oil & Gas Corp. is a junior oil and gas exploration and
development company focusing on shale gas opportunities. Mooncor's
current emphasis is on securing a joint venture partner for its proven
Muskwa/Duvernay shale gas project at Hamburg, Alberta. It is also
pursuing opportunities to realize near-term value from its southwest
Ontario assets, potentially through a spin-off into a new entity.
The information in this news release includes certain information and
statements about management's view of future events, expectations,
plans and prospects that constitute forward looking statements. These
statements are based upon assumptions that are subject to significant
risks and uncertainties. Because of these risks and uncertainties and
as a result of a variety of factors, the actual results, expectations,
achievements or performance may differ materially from those
anticipated and indicated by these forward looking statements. Although
Mooncor believes that the expectations reflected in forward looking
statements are reasonable, it can give no assurances that the
expectations of any forward looking statements will prove to be
correct. Except as required by law, Mooncor disclaims any intention and
assumes no obligation to update or revise any forward looking
statements to reflect actual results, whether as a result of new
information, future events, changes in assumptions, changes in factors
affecting such forward looking statements or otherwise.
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
This press release does not constitute and the subject matter hereof is
not, an offer for sale or a solicitation of an offer to buy, in the
United States or to any "U.S Person" (as such term is defined in
Regulation S under the U.S. Securities Act of 1933, as amended (the
"1933 Act")) of any equity or other securities of Mooncor. The
securities of Mooncor have not been registered under the 1933 Act and
may not be offered or sold in the United States (or to a U.S. Person)
absent registration under the 1933 Act or an applicable exemption from
the registration requirements of the 1933 Act.
SOURCE Mooncor Oil and Gas Corp.
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