/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
MOO:TSX Venture Exchange
CALGARY, June 13 /CNW/ - Mooncor Oil & Gas Corp. ("Mooncor") is pleased
to announce that on June 12, 2008 it successfully completed a non-brokered
private placement financing of 3,333,333 units ("Units") at a price of $0.15
per Unit for gross proceeds of $500,000, and 10,000,000 flow-through units
("FT Units") at a price of $0.20 per FT Unit for gross proceeds of $2,000,000.
Each Unit consists of one common share in the capital of the Company ("Common
Share") and one-half of one common share purchase warrant. Each FT Unit is to
consist of one flow-through common share in the capital of Mooncor and
one-half of one common share purchase warrant. Each whole common share
purchase warrant shall entitle the holder thereof to acquire one Common Share
at an exercise price of $0.30 per share until June 12, 2010. 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 for working capital.
Including the issuance of shares detailed in this news release, there are
currently 72,877,948 common shares issued and outstanding.
In connection with the financing, PowerOne Capital Markets Limited
received a cash commission of $160,000 and 1,083,333 finder's warrants, First
Republic Capital Corp. and Barrington Capital Corp. each received a cash
commission of $16,000 and 100,000 finder's warrants, and Secutor Capital
Management Corporation and Granite Associates Ltd. each received a cash
commission of $4,000 and 25,000 finder's warrants. Each finder's warrant
entitles the holder thereof to acquire one Unit at an exercise price of $0.15
per Unit until June 12, 2010.
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 and Alberta. Mooncor is focusing on both its oil
operations and its shale gas opportunities.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
For further information:
For further information: Richard Cohen, Vice-President (Corporate
Development), Mooncor Oil and Gas Corp., Tel: (905) 882-4422,
email@example.com; Jason Monaco, First Canadian Capital Corp., Tel: (416)
742-5600, Tel: (905) 882-4422, firstname.lastname@example.org