Mustang, formerly Urex Energy, will finance the deal with 15 million shares of common stock along with a $25,000 cash payment.
The deal is part of an ongoing reorganization of Mustang’s business activity that includes diversification internationally into geothermal energy, a long-term strategy to add shareholder value.
Mustang is a geothermal exploration and development company that is in the business of discovering geothermal energy resources and building renewable energy electrical power plants.
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