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, that further to its press release dated June 20, 2012, it has
completed a second and final closing pursuant to its previously announced public
offering (the "Offering") by short form prospectus dated June 4, 2012 (the
"Prospectus") and has issued $2,225,000 11% subordinated convertible secured
debentures at a price of $1,000 per debenture on August 8, 2012 lead by
Macquarie Private Wealth Inc. In addition, broker warrants were issued entitling
the holder to acquire up to 1,483,833 common shares at a purchase price of $0.15
for a period of 12 months from the date of issuance. Together with the first
closing, Magnum has raised aggregate proceeds of $3,300,000. 


The Company has made final submissions to the TSX Venture Exchange ("TSXV") for
the listing of the debentures and upon receipt of final approval from the TSXV,
the debentures shall be listed and posted for trading on the TSXV. 


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.magnumenergyinc.com. 


Forward looking statements:

The information and statements in this news release contain certain
forward-looking information relating to listing of the debentures on the TSXV.
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. The outcome and timing of the listing of the debentures 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 forward
looking information.

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