B2Gold Corp. press release
Mystique Energy Announces $2.1 Million Financing
TSX - Toronto Stock Exchange · Gold · Canada
TSX-Venture Exchange: MYS
CALGARY, Feb. 6 /CNW/ - Mystique Energy Inc. ("Mystique") announces that it intends to offer for sale, up to 3.3 million flow-through common shares at $0.65 per share, by way of a private placement, for gross proceeds of $2.145 million. Mystique will renounce Canadian Development Expenses to subscribers who will be entitled to claim deductions for income tax purposes in the 2006 taxation year equal to 30% of their subscription amount, with the balance deductible in future years. The private placement will be offered on a best efforts basis by Acumen Capital Finance Partners Limited. Closing of the financing is expected to occur on or about February 23, 2006 and is subject to the normal regulatory approvals. Proceeds of the financing will be used to fund Mystique's drilling development program on the farm-in lands in the Harmattan/Lochend/Bottrell/Wildcat Hills areas which are located northwest of Calgary. Mystique plans to drill 22 wells during 2006 with the drilling rig that it has under contract. The second well of the 2006 program is now being drilled; the first well has been cased and is presently being completed. Prior to the 2006 program, from late 2004 to the end of 2005, Mystique drilled 11 wells in these areas, six of which are on production, one is waiting on a flowline tie-in and four are waiting on completion/recompletion operations. Based in Calgary, Mystique is involved in the exploration and exploitation of petroleum reserves in western Canada.
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