March Resources Corp.

March Resources Corp.

March 09, 2005 11:41 ET

March Resources Corp.: News Release


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: MARCH RESOURCES CORP.

TSX VENTURE SYMBOL: MCF

MARCH 9, 2005 - 11:41 ET

March Resources Corp.: News Release

CALGARY, ALBERTA--(CCNMatthews - March 9, 2005) - March Resources Corp.
(TSX VENTURE:MCF) ("March") is pleased to report that the private
placement previously announced on February 15, 2005 has closed in
escrow, subject to TSX Venture Exchange Inc. final approval, for total
gross proceeds of $720,000. March issued 6,000,000 Units at a price of
$0.12 per Unit. Each Unit consists of one common share in the capital of
the Corporation and one share purchase warrant. Each warrant entitles
the holder thereof to acquire one common share exercisable at $0.17 per
share for a period of 12 months from issuance of the Units. All of the
securities issued in connection with this private placement are subject
to a four-month hold. Proceeds of the private placement will be used for
general working capital purposes.

Insiders of March have subscribed for 231,666 Units of the private
placement.

After giving effect to the private placement, March has 20,800,887
common shares issued and outstanding.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    March Resources Corp.
    Dave Antony
    CEO
    (403) 531-1710
    Email: dantony@marchresources.ca
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.