Mason Resources Announces Closing of Private Placement

Toronto, Ontario–(Newsfile Corp. – January 13, 2025) – Mason Resources Inc. (TSXV: LLG) (OTCQX: MGPHF) (“Mason” or the “Company“) is pleased to announce that it has closed its previously announced non-brokered private placement financing of units of the Company (the “Offering“) (see news release dated January 9, 2025), pursuant to which the Company issued 28,000,000 units of the Company (each a “Unit” and collectively, the “Units“) at a price of $0.05 per Unit for gross proceeds of $1,400,000 (all dollar figures are denominated in Canadian dollars). Each Unit consists of one common share of the Company (each, a “Common Share“) and one common share purchase warrant (each a “Warrant“). Each Warrant entitles the holder to acquire one additional Common Share at an exercise price of $0.075 until January 13, 2028. The Company is pleased to confirm that Mr. Fahad Al Tamimi, Chairman of the Board of Directors, subscribed to 6,980,000 Units under the Offering which has resulted in an increase in his ownership stake to approximately 19.2% on a partially diluted basis. The net proceeds of the Offering shall be used for general corporate and working capital purposes. The securities issued are subject to a regulatory hold period that expires […]