Mart Resources, Inc.

Mart Resources, Inc.

September 04, 2007 11:08 ET

Mart Resources, Inc. Announces Terms of Common Share Private Placement and UK Broker Arrangement

CALGARY, ALBERTA--(Marketwire - Sept. 4, 2007) - Mart Resources, Inc. ("Mart") (TSX VENTURE:MMT), announces that, subject to receipt of applicable regulatory and stock exchange approval, it will be conducting a private placement in Europe, the United States and Canada of up to 80,000,000 common shares at a price equivalent to $0.40 CDN per common share for aggregate gross proceeds before commissions and expenses of up to $32,000,000 CDN. These terms supersede the terms of a proposed private placement previously announced by Mart on July 18, 2007.

Mart is also pleased to announce that it has entered into an agreement with Mirabaud Securities Ltd. of London ("Mirabaud"), England to act as lead agent in respect of the European and US portions of this private placement. Mirabaud is a member of the Mirabaud Group, one of the oldest private Swiss banking firms, established in Geneva in 1819. Two Calgary-based brokers are also anticipated to participate in a Canadian portion of the private placement. Placing agreements and subscription agreements will be finalized shortly and the private placement will be closed as soon as possible.

The proceeds of the private placement will be used for ongoing drilling and development operations on Mart's Nigerian oil field properties and for general working capital.

Mart is an independent oil & gas company focused on bringing African oil fields into production that are proven but have not yet been developed.

Additional information regarding Mart Resources, Inc. is available on the company's website at

Certain statements in this News Release constitute forward-looking statements. Such forward-looking statements involve risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

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

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