B2Gold Corp. press release
Mystique Energy Closes Financing of $4.3 Million
TSX - Toronto Stock Exchange · Gold · Canada
TSX-Venture Exchange: MYS
CALGARY, July 14 /CNW/ - Mystique Energy Inc. ("Mystique") announces that the private placement, which was announced in a press release dated 2006-06-26, has been closed. Ten million (10.0 million) flow-through common shares were issued at $0.43 per share for gross proceeds of $4.3 million. The issued shares are subject to a four month hold period which will expire on November 14, 2006. Mystique will renounce Canadian Exploration Expenses to subscribers who will be entitled to claim deductions for income tax purposes in the 2006 taxation year equal to 100% of their subscription amount. The private placement was completed on a best efforts basis by Acumen Capital Finance Partners Limited. As a result of this financing, Mystique has 59.7 million shares outstanding and 69.1 million shares fully diluted. Proceeds of the offering will be used to fund part of Mystique's 2006 drilling program in the Harmattan / Lochend / Bottrel / Wildcat Hills areas which are located northwest of Calgary. Mystique has just completed the drilling of its fifth well of its 2006 program. The first four wells have been cased; one well is on production, one well has been completed and is being tied-in to processing facilities, one well is being completed and the fourth is waiting on completion operations. A second drilling rig is being contracted to accelerate Mystique's drilling program. The company is targeting to drill a total of 22 wells during 2006.
Based in Calgary, Mystique is involved in the exploration and exploitation of petroleum reserves in western Canada.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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