CALGARY, ALBERTA–(Marketwired – Sept. 24, 2013) – MAGNUM ENERGY INC. (“Magnum” or the “Corporation”) (TSX VENTURE:MEN) Magnum is pleased to announce that it has reached agreements with certain trade creditors to receive Magnum common shares issued from treasury at $0.10 per share in exchange for trade accounts payable in the total amount of $819,866.40. Magnum will issue 8,198,664 common shares with an effective date of August 31, 2013. The shares will be issued with a four month trading restriction ending on December 31, 2013.
This transaction is subject to the approval of the TSX Venture Exchange and the Alberta Securities Commission.
Neither 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.
President & CEO