Mooncor announces final closing of non-brokered $1.38 million flow-through and unit financing



    
    /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
    DISSEMINATION IN THE UNITED STATES/

    MOO:TSX Venture Exchange
    

    CALGARY, Feb. 9 /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 672,500 common share units ("Units") at a price
of $0.20 per Unit for gross proceeds of $134,500. 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 February 9, 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 $1,381,000 through the issuance of 6,402,500 Units and 402,000 flow-through
shares at $0.25 per share.
    The 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 85,945,838 Common Shares issued and outstanding.
    In connection with the final tranche announced today, Power One Capital
Markets Limited received a cash commission of $8,000 and 50,000 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 February 9, 2011.

    Business of Mooncor Oil & Gas Corp.

    Mooncor (through its wholly owned operating subsidiary Mooncor Energy
Inc.) 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 both its shale gas
opportunities and its oil operations with current emphasis on its recent shale
gas acquisition in Alberta.

    
    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 & Gas Corp., Tel: (905) 882-4422,
rcohen@mooncor.com; Jason Monaco, First Canadian Capital Corp., Tel: (416)
742-5600, jmonaco@firstcanadiancapital.com

Organization Profile

Mooncor Oil and Gas Corp.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890