Mogul Energy International, Inc. (MGUY): announcements explained, share price

Announcements, explained

Each one in plain English, with the numbers worked through for a shareholder.

16 June 2008capital raising announcement● NeutralMajor

Mogul closed the two Canadian private placements on June 11, 2008, raising $950,000 from 3,800,000 flow-through shares at $0.25 and $1,260,000 from 6,300,000 shares at $0.20, which is $2,210,000 for 10,100,000 shares. Commissions are 7% cash plus warrants for 7% of shares sold. Together with earlier 2008 sales, Mogul has raised $2,567,450 from 12,483,000 shares since January 1, 2008, to be used for exploration and development on its Saskatchewan leases. The company says it is proceeding with its plan to seek a TSX Venture Exchange listing, subject to approval. This continues the financing begun in late 2007 and adds to the share count.

What it means for a shareholder

6.3m new shares at US$0.200 to raise about US$1.3m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.

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15 Feb 2008capital raising announcement● NeutralMajor

Mogul reported completing part of the financing it announced in November 2007. It raised $804,984 by selling 4,472,134 flow-through shares at $0.18 and $364,950 by selling 2,433,000 shares at $0.15, a total of about $1.17 million against the roughly $3 million target. Sales commissions are 8% cash plus warrants for 10% of the shares sold, and the money is meant for exploration and development on its Saskatchewan leases. Mogul intends to keep raising money in 2008, and the new shares add to the share count.

What it means for a shareholder

2.4m new shares at US$0.150 to raise about US$364,950. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.

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