Magnum Energy Announces Private Placement Financing of Up to $2,040,000
December 02 2009 - 2:49PM
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 4,000,000 Flow Through Shares in the
capital of the Company (the "Flow Through Shares") at a price of
$0.51 per Flow Through Share, for gross proceeds of up to
$2,040,000.
The proceeds from the Private Placement will be used for further
exploration and development on the Company's properties.
Finders' fees may be payable on the private placement and are
subject to the acceptance for filing by the TSX Venture
Exchange.
ON BEHALF OF THE COMPANY
Richard 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 604.669.3177 (FAX) rnemeth@magnumenergyinc.com
www.magnumenergyinc.com