Magnum Energy Announces Private Placement Financing of up to $550,000
October 14 2009 - 12:51PM
Marketwired
MAGNUM ENERGY INC. (the "Company") (TSX VENTURE: MEN) is pleased to
announce that it has arranged a non-brokered private placement (the
"Private Placement") of up to 2,750,000 common shares in the
capital of the Company (the "Shares") at a price of $0.20 per
Share, for gross proceeds of up to $550,000.
The proceeds from the Private Placement will be used to provide
working capital for the Company.
A finder's fee may, in the Company's discretion but subject to
the policies of the TSX Venture Exchange, be paid to agents of the
Company in an amount equal to 6% of the proceeds raised by such
agents as part of this offering of Shares.
The private placement is subject to the acceptance for filing of
the TSX Venture Exchange.
ON BEHALF OF THE COMPANY
Richard Nemeth, President
The TSX Venture Exchange has neither approved or disapproved the
contents of this press release.
Contacts: Magnum Energy Inc. Richard Nemeth President & CEO
604.669.3155 604.669.3177 (FAX) rnemeth@magnumenergyinc.com
www.magnumenergyinc.com
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