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| | December 02, 2009
Magnum Energy Announces Private Placement Financing Of Up To $2,040,000
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| | MAGNUM ENERGY INC. (the "Company") (MEN-TSX:V) 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.
For further information on Magnum Energy Inc. please contact Richard Nemeth, President & CEO at 604.669.3155 or rnemeth@magnumenergyinc.com.
ON BEHALF OF THE COMPANY
Signed "Richard Nemeth"
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. |
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| | You can view the Next News Releases item: Wed Dec 16, 2009, Magnum Energy Inc. Announces Closing of First Tranche of Private Placement
You can view the Previous News Releases item: Mon Nov 23, 2009, Magnum Energy Announces August 2009 Reserves Summary And Provides Operations Update
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