Mr. Jim Hill reports
MCF ENERGY CLOSES SECOND TRANCHE TO FINANCING FOR AGGREGATE PROCEEDS OF $1.2 MILLION
MCF Energy Ltd. has closed a second and final tranche to its previously announced non-brokered financing of units. The company issued two million units at a price of five cents per unit for gross proceeds of $100,000. Each unit consists of one common share and one full common share purchase warrant, with each warrant entitling the holder to acquire an additional common share at an exercise price of six cents until Sept. 10, 2027. The company issued a total of 23,990,000 units for aggregate gross proceeds of $1,199,500.
All securities issued pursuant to the financing and any shares that may be issuable on exercise of any such securities will be subject to a statutory hold period expiring Jan. 11, 2026. Completion of the offering remains subject to final approval of the TSX Venture Exchange.
The company intends to use the net proceeds from the offering for working capital and general corporate purposes.
About MCF Energy
Ltd.
MCF Energy was established in 2022 by leading energy executives to strengthen Europe's energy security through responsible exploration and development of natural gas resources within the region. The company has secured interests in several significant natural gas exploration projects in Austria and Germany, with additional concession applications pending. MCF Energy is also evaluating additional opportunities throughout Europe. The company's leaders have extensive experience in the European energy sector and are working to develop a cleaner, cheaper and more secure natural gas industry as a transition to renewable energy sources. MCF Energy is a publicly traded company and is headquartered in Vancouver, B.C.
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