08:27 AM EDT, 10/10/2025 (MT Newswires) -- Mustang Energy ( MECPF ) overnight Thursday said it will transfer its rights to its Ford Lake, Roughrider South and Cigar East properties, located in Saskatchewan, to its subsidiary, Allied Strategic Resource.

Mustang shareholders will retain a proportionate interest in Allied.

Allied, which aims to list on the Canadian Securities Exchange, will raise $1.25 million to finance its exploration and working capital requirements. Certain insiders of Mustang may also participate in the financing.

Mustang Energy ( MECPF ) will retain its interests in the Brown Lake, Dutton, Yellowstone, 914W, Spur, Thunderbird and Konigsstuhl projects, with a strategic emphasis on the Yellowstone property. Allied will focus on the Ford Lake property.

The arrangement is anticipated to be completed by the end of the fourth quarter of this year.