/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
MOO:TSX Venture Exchange
CALGARY, April 16 /CNW/ - 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.
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.
For further information:
For further information: Richard Cohen, Vice-President (Corporate
Development), Mooncor Oil & Gas Corp., Tel: (905) 882-4422,
email@example.com; Jason Monaco, First Canadian Capital Corp., Tel: (416)