Marauder Resources East Coast Inc.

Marauder Resources East Coast Inc.

February 21, 2012 07:30 ET

Marauder Resources East Coast Inc. Closes Previously Announced Non-Brokered Private Placement

CALGARY, ALBERTA--(Marketwire - Feb. 21, 2012) - Marauder Resources East Coast Inc. (the "Company") (TSX VENTURE:MES) is pleased to announce it has successfully closed its previously announced non-brokered private placement (the "Offering") of units ("Units") of the Company, 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.

At closing, the Company issued 1,975,000 Common Shares and 1,975,000 Warrants, for gross proceeds of $395,000. The Common Shares and Warrants issued pursuant to the Offering will be subject to a four-month hold period from the date of issuance. An aggregate finder's fee of $19,750 in cash and 98,750 in Warrants was paid to certain finders for services provided to the Company in connection with certain subscriptions under the Offering.

The net proceeds from the sale of the Units will be used for general and corporate purposes.

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
    720, 440 - 2nd Avenue, S.W.
    Calgary, Alberta T2P 5E9
    (403) 262.3907