Name - Mustang Minerals Corp
Website -
Symbol - YMU.RT
Cusip Number - 628198 11 1
Expiry Date - Dec. 31, 2002,
News Releases
Mustang Minerals rights offering
2002-12-04 14:40 MT - Rights Offering
The company will offer to shareholders of record at Dec. 10, 2002, rights to purchase shares of the company. One right will be issued for each share held. Six rights and 25 cents are required to purchase one unit, each unit consisting of one flow-through common share and one-half of one share purchase warrant. The rights offering will expire on Dec. 31, 2002. Each whole share purchase warrant and 35 cents entitle the buyer to purchase one common share of the company on or before Dec. 31, 2004. As at Dec. 2, 2002, the company had 18,223,798 shares issued and outstanding.
Effective at the open on Dec. 6, 2002, the shares of the company will trade ex-rights and the rights will commence trading at that time on a when-issued basis. The company is classified as a mining (non-oil and gas) exploration/development company.
Summary
Basis of offering: Six rights exercisable for one unit at 25 cents per unit
Record date: Dec. 10, 2002
Pay date: Dec. 31, 2002
Shares trade ex-rights: Dec. 6, 2002
Rights called for trading: Dec. 6, 2002
Rights trade for cash: Dec. 28, 2002
Rights cease trading: Dec. 31, 2002, 9 a.m. PT
Rights expire: Dec. 31, 2002, 1 p.m. PT
Rights trading symbol: YMU.RT
Rights Cusip No.: 628198 11 1
Rights give existing shareholders a chance to proportionately buy shares in the new issue the company is putting out to raise more funds. The certificate showing this privilege is called a right. It gives the stockholders the first opportunity, to buy the new securities.
Rights issue
An offer made by a company to its shareholders to enable them to buy new
shares in the company at a discount to the market price.
