MCF Energy closes $1.09-million unit financing

Executive Summary

• MCF Energy Ltd. has closed a previously announced non-brokered financing, issuing 21,990,000 units for gross proceeds of $1,099,500.
• Each unit consists of one common share and one full common share purchase warrant, exercisable at $0.06 per share until September 5, 2027.
• The company incurred $19,170 in finders' fees and issued 383,400 non-transferable finders' warrants, with net proceeds designated for working capital and general corporate purposes.

Key Details

• Units Issued: 21,990,000 units.
• Price Per Unit: $0.05.
• Gross Proceeds: $1,099,500.
• Unit Composition: One common share and one full common share purchase warrant.
• Warrant Terms:
  • Exercise Price: $0.06 per share.
  • Expiration Date: September 5, 2027.
• Finders' Fees: $19,170 paid in cash.
• Finders' Warrants: 383,400 non-transferable warrants issued, entitling holders to acquire one share at $0.06 per share until September 5, 2027.
• Statutory Hold Period: All securities and issuable shares are subject to a hold period expiring January 6, 2026.
• Use of Proceeds: Working capital and general corporate purposes.
• Regulatory Status: Completion remains subject to final approval of the TSX Venture Exchange.