THEMAC Resources Group Limited
TSX VENTURE : MAC.H

April 16, 2008 09:00 ET

THEMAC Resources Group Limited: Private Placement and Debt Settlement Announced

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 16, 2008) - THEMAC Resources Group Limited (NEX:MAC.H) ("the Company") wishes to announce that it has agreed to a non-brokered private placement to raise up to $200,000 with a shareholder and with two companies controlled by directors of the Company. The Company will issue up to 1,052,631 units at $0.19 per unit. Each unit will consist of one common share, and one share purchase warrant; each warrant will entitle the holder to purchase one common share of the Company at a price of $0.25 per share for a period of one year from the date of distribution. The proceeds of the private placement will be used for general working capital.

The Company has also reached a settlement of a debt of $34,000 in outstanding consulting fees with a company controlled by a director of the Company though the issuance of 178,947 common shares at a price of $0.19 per share.

The above transactions are subject to regulatory approvals, and the units sold and shares issued will have a hold period of four months from the time of distribution in compliance with TSX Venture Exchange policies and applicable securities law.

On behalf of the board of directors

THEMAC RESOURCES GROUP LIMITED

Barrett Sleeman, President

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

Contact Information

  • THEMAC Resources Group Limited
    Mr. Salvador Miranda
    (604) 806-6110
    (604) 806-6112 (FAX)