Mooncor announces non-brokered $1.3 million financing



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

    MOO:TSX Venture Exchange

    CALGARY, April 3 /CNW/ - Mooncor Oil & Gas Corp. ("Mooncor") announced
today, that it intends to complete a non-brokered private placement financing
pursuant to which Mooncor proposes to raise gross proceeds of up to $1,300,000
through the issuance of common share units ("Units") at a price of $0.20 per
Unit. Each Unit is to consist of one common share in the capital of Mooncor
and one-half of one common share purchase warrant ("Warrant"). Each whole
Warrant shall entitle the holder thereof to acquire one common share in the
capital of Mooncor at an exercise price of $0.35 per share for a period of two
years following the closing of the financing. All securities issued pursuant
to the financing will be subject to a four-month hold period.
    Finders fees may be payable to eligible persons with respect to the
financing and will be subject to regulatory approval.
    The net proceeds will be used by Mooncor for exploration on its oil and
gas properties, working capital and property acquisitions.

    Business of Mooncor Oil & Gas Corp.

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

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Mooncor Oil and Gas Corp.

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