MEN

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Magnum Energy Inc. ("Magnum" or the "Company") (TSX VENTURE:MEN) is pleased to
announce an initial closing pursuant to its previously announced public offering
(the "Offering") by short form prospectus dated June 4, 2012 (the "Prospectus")
and has issued $775,000 11% subordinated convertible secured debentures at a
price of $1,000 per debenture and $300,000 or 3,750,000 Common Shares at $0.08
per Common Share for aggregate proceeds of $1,075,000 on June 19, 2012 lead by
Macquarie Private Wealth Inc. In addition, broker warrants were issued entitling
the holder to acquire up to 891,667 Common Shares at a purchase price of $0.15
for a period of 12 months from the date of issuance. It is anticipated that one
of more subsequent closings may occur on or before September 3, 2012. For
additional information please refer to the Prospectus available on
www.sedar.com.


Further to its press release dated May 25, 2012, Magnum has completed a private
placement with an additional 125,000 Common Shares issued at a price of $0.08
per share and 100,000 flow through common shares ("Flow Through Shares") issued
at a price of $0.10 per Flow Through Share for proceeds of $20,000 resulting in
total gross proceeds raised under the private placement of $381,000. The Common
Shares and Flow Through Shares issued under the private placement are subject to
a four month hold period.


This press release shall not constitute an offer to sell or the solicitation of
an offer to buy any securities, nor shall there be any sale of securities in any
state in the United States in which such offer, solicitation or sale would be
unlawful. The securities referred to herein have not been and will not be
registered under the United States Securities Act of 1933, as amended, and may
not be offered or sold in the United States absent registration or an applicable
exemption from registration requirements.


About Magnum Energy Inc.: Magnum is a Canadian oil and natural gas exploration,
development and production company with operations based in the Province of
Alberta, and an administrative office in Vancouver, British Columbia. The
Company's mandate is to acquire and develop significant working interests in a
variety of oil and natural gas prospects. The Company's public filings may be
found at www.sedar.com. To find out more about Magnum visit our website at
www.magnumenergy.com.


Forward looking statements:

The information and statements in this news release contain certain
forward-looking information relating to subsequent closings under the
Prospectus. All statements other than statements of historical fact may be
forward-looking information. This forward-looking information is subject to
certain risks and uncertainties and may be based on assumptions that could cause
actual results to differ materially from those anticipated or implied in the
forward-looking information. These assumptions include market acceptance of the
terms of the Offering. The outcome and timing of subsequent closings under the
Offering could differ materially from those expressed in, or implied by, such
forward looking information, and accordingly, no assurances can be given that
any subsequent closings or events anticipated by the forward-looking information
will transpire or occur or, if any of them do, what benefits the Corporation
will derive from them. The Corporation's forward-looking information is
expressly qualified in its entirety by this cautionary statement. Except as
required by law, the Corporation undertakes no obligation to publicly update or
revise any forwardlooking information.

(TSXV:MEN)
Historical Stock Chart
From Jun 2024 to Jul 2024

(TSXV:MEN)
Historical Stock Chart
From Jul 2023 to Jul 2024