Magnum Energy Announces Closing of Non-Brokered Private Placement
October 27 2009 - 9:56AM
Marketwired
MAGNUM ENERGY INC. (the "Company") (TSX VENTURE: MEN) is pleased to
announce the closing of its private placement (the "Private
Placement") announced in its news releases of October 14, 2009 and
October 16, 2009. Pursuant to the Private Placement, the Company
issued 3,000,000 common shares (the "Shares") at a price of $0.20
per Share for gross proceeds of $600,000.
A Finder's fees of $13,500 in cash was paid in accordance with
the policies of the TSX Venture Exchange.
All securities issued pursuant to the private placement are
subject to a hold period expiring on February 24, 2010.
ON BEHALF OF THE COMPANY
Richard Nemeth, President and CEO
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this 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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