Magnum Energy Inc. (TSX VENTURE:MEN) (the "Company") announces that it intends
to reduce the exercise price of 2,045,000 incentive stock options (with exercise
prices ranging between $0.30 per common share to $0.45 per common share) to an
exercise price of $0.18 per share. The re-pricing of the stock options is
subject to TSX Venture Exchange acceptance. There has been no change to the
expiry dates of the options.
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