Marauder Resources East Coast Inc.
TSX VENTURE : MES

Marauder Resources East Coast Inc.

September 14, 2009 16:20 ET

Marauder Resources East Coast Inc. Announces Cancellation and Issuance of Stock Options

CALGARY, ALBERTA--(Marketwire - Sept. 14, 2009) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.

Marauder Resources East Coast Inc. ("Marauder") (TSX VENTURE:MES) announces that it has cancelled an aggregate of 550,000 options that were issued to two directors of Marauder, Paul Gouin and Donald Kempf in September, 2008 (the "September 2008 Options") in exchange for the issuance of options on September 14, 2009 (the "Options") to such directors to acquire up to 425,000 and 125,000 common shares of Marauder ("Common Shares"), respectively. The Options vest immediately, are exercisable at a price of $0.10 per Common Share and expire on September 16, 2013. Inclusive of the options granted to Messrs. Gouin and Kempf, there are options outstanding to purchase a total of 5,050,000 Common Shares of Marauder, or approximately 9.4% of Marauder's issued and outstanding Common Shares.

Disinterested shareholder approval for the cancellation of the September 2008 Options and issuance of the Options was received at the annual and special meeting of the holders of Common Shares of Marauder held on June 18, 2009. The issuance of the Options is subject to the approval of the TSX Venture Exchange.

Marauder is a Canadian junior oil and gas company engaged in the exploration and development of oil and natural gas reserves, with a strategy of acquiring high-impact drilling prospects with world class reserves potential. Marauder is currently engaged in development activities in the Panuke oil and gas discovery area, offshore Nova Scotia.

Marauder has 53,989,501 Common Shares issued and outstanding which trade on the TSX Venture Exchange under the symbol "MES".

Further information with regards to Marauder may be found on the SEDAR website www.sedar.com or on Marauder's website www.maraudernrg.ca.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Marauder Resources East Coast Inc.
    Robert V. Shields
    (403) 262-3907
    rvs@maraudernrg.ca
    or
    Marauder Resources East Coast Inc.
    720, 440 - 2nd Avenue S.W.
    Calgary, Alberta T2P 5E9
    www.maraudernrg.ca