Magnum Energy Inc.
TSX VENTURE : MEN

Magnum Energy Inc.

October 16, 2009 17:35 ET

Magnum Energy Announces an Increase of Its Private Placement Financing to $600,000

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 16, 2009) - MAGNUM ENERGY INC. (the "Company") (TSX VENTURE:MEN) is pleased to announce that it has increased the current Private Placement offering, first reported on October 14, 2009, from a maximum of 2,750,000 common shares to 3,000,000 common shares at a price of $0.20 per Share, for gross proceeds of up to $600,000. All other details remain the same.

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.

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