MMU Private Placement
posted on
Jan 11, 2009 08:48PM
San Gold Corporation - one of Canada's most exciting new exploration companies and gold producers.
FOR IMMEDIATE RELEASE
Press Release SEC 12g(3) Exemption 82-4100
TSX Venture Trading Symbol “MMU” Standard & Poor’s Corporate Manual Listing
Marum Announces Private Placement Offering
Calgary, Alberta - January 9, 2009 – Subject to regulatory acceptance, Marum Resources Inc. (TSX-V: MMU) (the “Company”), today announces a non-brokered private placement offering (the “Offering”) of up to 4,500,000 units (“Units”) at a price of $0.07 per Unit for gross proceeds of up to $315,000. Each Unit will be comprised of one common share of the Company (a “Share”) and one Share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one Share at a price of $0.13 per Share for a period of 36 months from the date the Warrant is issued. The Offering is expected to close on or before January 30, 2009. Insiders of the company are expected to subscribe up to 80% of the Offering. Pursuant to the policies of the TSX Venture Exchange, the sale of Units to these insiders constitutes a “related party transaction” as defined in Multilateral Instrument 61-101- Protection of Minority Securityholders in Special Transactions. The transaction however will be exempt from applicable formal valuation and minority shareholder approval requirements as neither the fair market value of the Units does not exceed 25% of the market capitalization of the Company.
No fees or commissions shall be payable in connection with this placement. The net proceeds from the Offering will be used to explore the Company’s gold properties and for general corporate purposes. All dollar amounts are in Canadian dollars unless otherwise noted. The offering is subject to receipt of all necessary approvals, including the approval of the TSX Venture Exchange. Neither the 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. This news release may contain assumptions, estimates, other forwardlooking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company’s control, which may cause actual results, performance or circumstances to differ materially from those currently anticipated in such statements.
For further information please contact:
Arness Cordick – Director
Richard Boulay – CEO and Chairman
Tel: 1- 800-321-8564
Tel: 1(403)243-9500
www.marumresources.com
rboulay@marumresources.com