Cougar Minerals Corp.
TSX VENTURE : COU

Cougar Minerals Corp.

October 01, 2015 15:07 ET

Cougar Minerals Announces Private Placement and Change in Management

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 1, 2015) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES

Cougar Minerals Corp. (the "Company") (TSX VENTURE:COU) announces its intention to carry out a non-brokered private placement to raise aggregate gross proceeds of up to C$500,000. The financing will be effected through the sale of up to 10,000,000 common shares (the "Shares") at a price of $0.05 per Share (the "Offering").

The Company will apply the net proceeds of the Offering to settle arms-length debts and for general working capital purposes. Funds are also being used to investigate current business opportunities outside of the mineral exploration industry with a view to creating shareholder value.

All securities issued under the Offering will be subject to a four-month hold period in accordance with applicable Canadian securities laws.

No finder's fees will be payable under the Offering.

Closing of this Offering is subject to the receipt of all necessary regulatory approvals including that of the TSX Venture Exchange.

The Company also announces that Murray Nye has resigned as the President, Chief Executive Officer and a director of the Company. The Company would like to thank Mr. Nye for his contributions to the Company. The Company is pleased to announce that Darryl Cardey has been appointed President, Chief Executive Officer and director of the Company to fill the vacancies.

On Behalf of the Board of Directors of Cougar Minerals Corp.,

Darryl Cardey

President & CEO

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

This press release contains "forward-looking information" that is based on the Company's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to the Company's development plans. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information.

Contact Information

  • Cougar Minerals Corp.
    Darryl Cardey
    President & CEO
    604-638-8063