MCF Energy closes $100,000 second tranche of financing

Executive Summary

• MCF Energy Ltd. has closed the second and final tranche of its previously announced non-brokered financing, bringing total aggregate gross proceeds to $1,199,500.
• The final tranche consisted of 2,000,000 units issued at $0.05 per unit, generating $100,000 in gross proceeds.
• The net proceeds are intended for working capital and general corporate purposes, with the offering subject to final TSX Venture Exchange approval.

Key Details

• Total Aggregate Gross Proceeds: $1,199,500 from a total issuance of 23,990,000 units.
• Final Tranche Details:
  • Units Issued: 2,000,000 units.
  • Price Per Unit: $0.05.
  • Gross Proceeds from Final Tranche: $100,000.
• Security Structure: Each unit consists of one common share and one full common share purchase warrant.
• Warrant Terms:
  • Exercise Price: $0.06 per share.
  • Expiration Date: September 10, 2027.
• Hold Period: All securities and issuable shares are subject to a statutory hold period expiring January 11, 2026.
• Use of Proceeds: Working capital and general corporate purposes.
• Regulatory Status: Completion remains subject to final approval of the TSX Venture Exchange.