Marauder Resources East Coast Inc.
TSX VENTURE : MES

Marauder Resources East Coast Inc.

January 17, 2011 16:37 ET

Marauder Resources East Coast Inc. Announces Execution of Shares for Services Agreements and Issuance of Stock Options

CALGARY, ALBERTA--(Marketwire - Jan. 17, 2011) - Marauder Resources East Coast Inc. ("Marauder" or the "Corporation") (TSX VENTURE:MES) announces the execution of agreements (the "Agreements") for shares for past services provided by Messrs. Robert V. Shields, Mike Murphy and John Loewen, each a director of Marauder. Under the Agreements, Marauder will issue an aggregate of 5,000,000 common shares in the capital of the Corporation (the "Common Shares") having a deemed issuance price of $0.05 per Common Share. Messrs. Shields and Murphy will each be issued 2,000,000 Common Shares in full satisfaction of past services provided to the Corporation by each of them of $100,000, and Mr. Loewen will be issued 1,000,000 Common Shares in full satisfaction of past services provided to the Corporation by him of $50,000.

The transactions contemplated by the Agreements are subject to the approval of the TSX Venture Exchange.

In addition, Marauder announces that it granted options today to acquire up to 5,450,000 Common Shares of Marauder, all of which were granted to directors and officers of Marauder. Each grant of options is for a five year term, expiring on January 17, 2016, and all options vest immediately. The options are exercisable at a price of $0.10 per Common Share. There are now options outstanding to purchase a total of 5,450,000 Common Shares of Marauder, or approximately 8.54% of Marauder's issued and outstanding Common Shares (including the 5,000,000 Common Shares issuable pursuant to the Agreements).

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 Press 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