Mason Resources Announces Fully Subscribed Private Placement Financing with Strong Insider Participation

Toronto, Ontario–(Newsfile Corp. – January 9, 2025) – Mason Resources Inc. (TSXV: LLG) (OTCQX: MGPHF) (“Mason” or the “Company“) is pleased to announce a fully-subscribed non-brokered private placement for gross proceeds of $1.4 million (the “Offering“). The Company is also pleased to confirm that Mr. Fahad Al Tamimi, Chairman of the Board of Directors, intends to participate in the Offering, which will result in an increase in his ownership stake to approximately 19.2% on a partially diluted basis. The net proceeds of this Offering shall be used for general corporate and working capital purposes. The Offering will consist of a minimum of 28,000,000 units at a price of $0.05 per unit. Each unit will consist of one common share and one common share purchase warrant (a “Warrant“). Each Warrant will entitle the holder thereof to purchase one additional common share at an exercise price of $0.075 for a period of three years from the Closing Date (as defined herein). Prior to the Offering, Mr. Al Tamimi holds 19,916,837 shares, representing 14.1% of Mason’s total issued and outstanding shares. Upon closing, Mr. Al Tamimi is expected to hold 26,896,837 shares, representing 15.89% of the total issued and outstanding shares, along with […]