Highlights
- Mustang receives formal commitments to raise ~$3.0 million through a placement of new shares
- Funds raised will finance the development of the world-class Montepuez Ruby Project in Mozambique with bulk sampling on-track to start in June 2016
- Directors have also agreed to convert $589,500 of outstanding fees and project acquisition costs to scrip in lieu of cash at 25% premium to Placement price (subject to shareholder approval)
Mustang Resources Limited
(ASX:MUS) (“Mustang” or “the Company”) is pleased to announce that it has received formal commitments to raise approximately $3.0 million in a placement to professional and sophisticated investors through the issue of ~75.5 million new shares (“Placement”).
For further information please download PDF attached:
