Magnum Energy Closes Private Placement of Flow-Through Financing Totalling $595,660
December 31 2010 - 10:23AM
Marketwired
MAGNUM ENERGY INC. (the "Company") (TSX VENTURE: MEN) is pleased to
announce the closing of the second and final tranche of its private
placement (the "Private Placement") announced in its news release
dated December 8, 2010. In connection with the Private Placement,
the Company issued a total of 2,054,001 flow-through shares at a
price of $0.29 per share for gross proceeds of $595,660.
Finder's fees of $33,576 were paid in accordance with the
policies of the TSX Venture Exchange.
All securities issued pursuant to the private placement are
subject to hold periods expiring between April 16 and 30, 2011.
ON BEHALF OF THE COMPANY
Richard A. Nemeth, President
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 rnemeth@magnumenergyinc.com
www.magnumenergyinc.com
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