Mooncor Oil & Gas Corp.
TSX VENTURE : MOO

Mooncor Oil & Gas Corp.

September 16, 2009 16:36 ET

Mooncor Announces Non-Brokered $2.1 Million Financing

CALGARY, ALBERTA--(Marketwire - Sept. 16, 2009) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Mooncor Oil & Gas Corp. ("Mooncor") (TSX VENTURE:MOO) announced today, that it intends to complete a non-brokered private placement financing pursuant to which Mooncor proposes to raise gross proceeds of up to $2,100,000 through the issuance of common share units ("Units") at a price of $0.30 per Unit. Each Unit is to consist of one common share in the capital of Mooncor and one-half of one common share purchase warrant ("Warrant"). Each whole Warrant shall entitle the holder thereof to acquire one common share in the capital of Mooncor at an exercise price of $0.45 per share for a period of two years following the closing of the financing. All securities issued pursuant to the financing will be subject to a four-month hold period.

Finders fees may be payable to eligible persons with respect to the financing and will be subject to regulatory approval.

The net proceeds will be used by Mooncor for working capital.

Business of Mooncor Oil & Gas Corp.

Mooncor Oil & Gas Corp. is a junior oil and gas exploration and development company with unconventional shale gas, light oil and heavy oil projects in Saskatchewan, Alberta and South Western Ontario. Mooncor is focusing on its shale gas opportunities with a current emphasis on the high impact proven shale gas play in the Western Canadian Sedimentary Basin.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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