Mooncor Oil & Gas Corp. has completed the second tranche of its $1.26-million non-brokered private placement financing by issuing 550,000 flow-through units (FT units) at a price of nine cents per FT unit, for gross proceeds of $49,500. Including the closing of the second tranche, Mooncor has raised total gross proceeds of $364,020.

Each FT unit consists of one flow-through common share in the capital of Mooncor and one-half of one common share purchase warrant. Each flow-through common share will qualify as a flow-through share for the purposes of the Income Tax Act (Canada). Each whole common share purchase warrant entitles the holder thereof to acquire one common share in the capital of Mooncor at an exercise price of 20 cents per share until Dec. 12, 2010. All securities issued pursuant to the financing are subject to a four-month hold period.

The proceeds will be used by Mooncor for exploration on its oil and gas properties.

Including the issuance of shares detailed in this news release, there are currently 76,229,116 common shares issued and outstanding.

In connection with the financing, Haywood Securities Inc. received a cash commission of $3,960 and 55,000 finder’s warrants. Each finder’s warrant entitles the holder thereof to acquire one unit at an exercise price of nine cents per unit until Dec. 12, 2010. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole common share purchase warrant entitles the holder thereof to acquire one common share at an exercise price of 20 cents per share until Dec. 12, 2010.