Marauder Resources East Coast Inc.

Marauder Resources East Coast Inc.

April 23, 2007 19:28 ET

Marauder Resources East Coast Inc. Announces Interim Chief Financial Officer, Granting of Options and Repricing of Previously Granted Options

CALGARY, ALBERTA--(CCNMatthews - April 23, 2007) - Marauder Resources East Coast Inc. (TSX VENTURE:MES) ("Marauder" or the "Company") is pleased to announce that John C. Loewen, a director of Marauder, has accepted the appointment as Interm Chief Financial Officer effective April 20, 2007. Mr. Loewen is the Chief Executive Officer of Loewen & Partners Corporate Services Inc., an investment banking firm that specializes in assisting with access to institutional growth capital, since 2002. Mr. Loewen has 19 years of international experience in finance.

The Company also announces today that, pursuant to Marauder's stock option plan, the Company has granted options to acquire up to an aggregate of 1,175,000 common shares to certain directors, officers and consultants to the Company. Each of the options is for a five (5) year term, expiring on April 19, 2012 and exercisable until that time at a price of $0.25 per common share.

In addition, due to current market conditions, the Company also announces that it has reduced the exercise price of 3,400,000 stock options granted in 2004 and 2005 ranging from $0.65 to $1.50 per share to $0.25 per share and has extended the terms of those stock option to an additional five (5) years. The reduction of the exercise price is subject to acceptance by the TSX Venture Exchange. All amendments to the stock option grants are subject to shareholder approval, which the Company will be seeking at its upcoming Annual General Meeting.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Marauder Resources East Coast Inc.
    Robert V. Shields
    (403) 262-3907