/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
MOO: TSX Venture Exchange
CALGARY, April 9 /CNW/ - Mooncor Oil & Gas Corp. ("Mooncor") is pleased
to announce that it has completed the first tranche of its non-brokered
private placement financing by issuing 4,130,000 common share units ("Units")
at a price of $0.20 per Unit for aggregate gross proceeds of $826,000. 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 9, 2011. All securities issued pursuant
to the financing are subject to a four-month hold period.
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 90,075,838 Common Shares issued and outstanding.
In connection with the financing, PowerOne Capital Markets Limited
received a cash commission of $40,000 and 250,000 finder's warrants, All Group
Financial Services Inc. received a cash commission of $8,800 and 55,000
finder's warrants, and Wellington West Capital Inc. 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 April 9, 2011.
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.
