Mooncor announces final closing of $1.83 million non-brokered financing


MOO:TSX Venture Exchange

CALGARY, Sept. 29 /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 598,000 common share units ("Units") at a price of $0.30 per Unit for aggregate gross proceeds of $179,400. 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 $0.45 per share until September 29, 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 $1,837,951 through the issuance of 6,126,502 Units.

The net proceeds will be used by Mooncor for working capital.

Including the issuance of shares detailed in this news release, there are currently 98,011,078 Common Shares issued and outstanding.

In connection with the final tranche of the financing, Mooncor paid cash commissions equal to 8% ($14,352) of the aggregate gross proceeds of the financing, and issued compensation warrants to purchase that number of Units as is equal to 10% (59,800) of the number of Units sold pursuant to the financing, at an exercise price of $0.30 per Unit exercisable until September 29, 2011.

Business of Mooncor Oil & Gas Corp.

Mooncor Oil & Gas Corp. is a junior oil and gas exploration and development company. Mooncor is focusing on its shale gas opportunities with a current emphasis on its high impact proven muskwa shale gas play at Hamburg, Alberta.

    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.

SOURCE Mooncor Oil and Gas Corp.

For further information: For further information: Richard Cohen, Vice-President (Corporate Development), Mooncor Oil & Gas Corp., Tel: (905) 882-4422,; Jason Monaco, First Canadian Capital Corp., Tel: (416) 742-5600,

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