CALGARY, ALBERTA--(Marketwire - Feb. 25, 2013) - Marauder Resources East Coast Inc. ("Marauder" or the "Company") (TSX VENTURE:MES) announces that further to the Company's news release of January 10, 2013, Marauder has closed its previously announced shares for past services transactions (the "Transactions") pursuant to which the Company has issued an aggregate of 10,902,571 common shares in the capital of the Company (the "Common Shares") having a deemed issuance price of $0.07 per Common Share.
Mr. Shields was issued 7,866,857 Common Shares in full satisfaction of obligations of $550,680 owed to Mr. Shields. Mr. Loewen was issued 3,035,714 Common Shares in full satisfaction of obligations of $212,500 owed to Mr. Loewen. Mr. Shields now beneficially owns or controls approximately 16.3% of the issued and outstanding Common Shares. Assuming the exercise of all securities convertible into Common Shares by Mr. Shields, he will beneficially own or control approximately 19.1% of the then issued and outstanding Common Shares. The securities were acquired for investment purposes and to continue to align the interests of Mr. Shields with those of the Company. Mr. Shields may, in the future, make additional investments in or dispositions of the Company's securities.
The Transactions received acceptance from the TSX Venture Exchange on February 25, 2013.
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.