December 11, 2012 - Cougar Minerals Corp. - TSX-V: COU ("Cougar" or the "Company") reports that, it has received conditional approval from the TSX Venture Exchange ("TSX.V"), and has closed the first tranche of its previously announced, non-brokered offering of units of the Company's securities of up to 2,652,000 non flow-through units (the "NFT Units"), for 704,000 units for gross proceeds of $105,600. Each NFT Unit will consist of one common share and one common share purchase warrant. Each share purchase warrant will entitle the holder to acquire one additional common share at a price of $0.18 per share for a period of 24 months after closing of the offering.
Finder Fees consisting of $3,216 in cash is to be paid pursuant to the policies of the TSX.V, 32,160 finder's units consisting of one common share and one common share purchase warrant and 53,600 finder's warrants exercisable at a price of $0.18 for a period of 24 months after closing.
The offering is subject to regulatory approval and all shares and any shares issued on exercise of the warrants are subject to restrictions on transfer for a period of four months from the closing of the offerings.
The proceeds from the non flow-through offering will be used for general corporate purposes and will also allow the Company to continue to conduct due diligence on several properties currently under evaluation in the state of Montana.
COUGAR MINERALS CORPORATION
s/ "Max Polinsky"
Chief Financial Officer
For more information, please contact:
Cougar Minerals Corporation
Max Polinsky, CFO/Secretary
The TSX Venture Exchange, nor its Regulation Services Providers (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied in the forward-looking information.