MAGNUM ENERGY INC. ("MEN") BULLETIN TYPE: Private Placement-Non-Brokered BULLETIN DATE: December 8, 2006 TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced October 20, 2006:
Number of Shares: 2,000,000 flow-through shares
Purchase Price: $0.30 per share
Warrants: 2,000,000 share purchase warrants to purchase 2,000,000 shares
Warrant Exercise Price: $0.40 for a two year period
Number of Placees: placees
Insider / Pro Group Participation:
Insider equals Y / Name ProGroup equals P / No. of Shares
Kelly Klatik P 30,000 Theodore Konyi Y 185,000 Jeffrey Lowe Y 400,000 Brent Todd P 25,000 Johnny Markovina P 25,000 Ron Redier P 35,000 Fred Hofman P 25,000 Chris Wardle P 50,000 Martin Burian P 20,000
Finder's Fee: 7% cash commission based on the gross proceeds raised payable to Canaccord Capital Corp. ($6,930), Bolder Investment Partners Ltd. ($10,500) and David Jones ($4,200).
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly.
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