Marauder Resources East Coast Inc.

Marauder Resources East Coast Inc.

February 10, 2012 18:19 ET

Marauder Resources East Coast Inc. Announces Non-Brokered Private Placement

CALGARY, ALBERTA--(Marketwire - Feb. 10, 2012) - Marauder Resources East Coast Inc. (the "Company") (TSX VENTURE:MES) is pleased to announce a non-brokered private placement (the "Offering") of up to 2,000,000 units ("Units") of the Company at a price of $0.20 per Unit, each Unit consisting of one common share ("Common Share") in the capital of the Company and one Common Share purchase warrant ("Warrant"). Each Warrant entitles the holder to acquire one Common Share at an exercise price of $0.25 for a period of 36 months from the date of the closing of the Offering. A finder's fee may be paid to certain finders under the Offering, consisting of a cash payment equal to 5% of the gross proceeds from the sale of Units placed by such finder and the issuance of such number of Warrants as is equal to 5% of the Units placed by such finder.

Closing of the Offering is expected to occur on or about February 14, 2012, and is subject to customary conditions and regulatory approvals, including the approval of the TSX Venture Exchange.

The net proceeds from the sale of the Units will be used for general and corporate purposes. The Common Shares and Warrants issued pursuant to the Offering will be subject to a four-month hold period from the date of issuance.

This press release may contain forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, anticipations, expectations, opinions, forecasts, projections, guidance or other similar statements that are not statements of fact. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. These risks include, but are not limited to: the risks associated with the oil and gas industry (e.g. operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses and health, safety and environmental risks), commodity price and exchange rate fluctuation and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures. The Company's forward-looking statements are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligations to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

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

  • Marauder Resources East Coast Inc.
    Robert V. Shields
    (403) 262.3907

    Marauder Resources East Coast Inc.
    720, 440 - 2nd Avenue, S.W.
    Calgary, Alberta T2P 5E9