THEMAC Resources Group Limited

February 24, 2010 17:23 ET

THEMAC Resources Group Limited: Private Placement Completed

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 24, 2010) - THEMAC Resources Group Limited (TSX VENTURE:MAC.H) ("the Company") announces that, further to its February 5, 2010 press release, it has completed a non-brokered private placement raising $460,000 with Marley Holdings Pty Ltd. ("Marley"). Marley is the trustee of the Maloney Family Trust and Mr Kevin Maloney, a director of the Company, is a director of Marley. The Company has issued 5,111,111 units at $0.09 per unit. Each unit consists of one common share, and one share purchase warrant; each warrant will entitle the holder to purchase one common share of the Company at a price of $0.10 per share until February 19, 2011. The securities issued have a hold period ending on June 20, 2010. The proceeds of the private placement will be used for general working capital.

The private placement increases Mr. Maloney's direct and indirect holdings in the Company by 20.13%, to 70.67%, on a non-diluted basis, and to 78.37%, assuming exercise of the warrants.

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

Contact Information

  • THEMAC Resources Group Limited
    Mr. Salvador Miranda
    (604) 806-6110
    (604) 806-6112 (FAX)