As a related company through Joint Ventures, this might be of interest to some here:

Marum closes $600,000 private placement

2007-12-28 16:56 ET - News Release

Ms. Courtney Shearer reports

PRIVATE PLACEMENT CLOSED

Marum Resources Inc. has closed a $600,000 private placement of six million units, including 4.56 million flow-through units, at a price of 10 cents per unit. Each unit consists of one common share and one common share purchase warrant exercisable at a price of 13 cents per share until Dec. 31, 2009. Cash finder's fees totalling $12,600 will be paid to certain eligible finders, representing 7 per cent of the funds raised by such parties. The securities issued under this financing are subject to a hold period of four months and one day from the closing date of the offering, until April 29, 2008

Certain officers, directors, and insiders of the company subscribed for $40,000 in the private placement, on the terms set forth above, and such participation has been approved by the independent directors of the company. That portion of the private placement sold to insiders may be classified as a related-party transaction, as such term is defined in Ontario Securities Commission Rule 61-501 and TSX Venture Exchange policies. The company is relying upon exemptions from shareholder approval and valuation requirements imposed by Rule 61-501 and TSX Venture Exchange policies in respect of related party transactions.

The proceeds from the private placement will be used to explore the company's mineral properties and for general expenses.