Magnum Energy Announces Private Placement Offering

CALGARY, ALBERTA–(Marketwired – Aug. 1, 2014) – MAGNUM ENERGY INC. (the “Corporation” or “Magnum”) (TSX VENTURE:MEN) is pleased to announce that it has arranged a non-brokered private placement of up to 4,000,000 units (“Units”) at a price of $0.05 per Unit for aggregate gross proceeds of up to $200,000 (the “Offering”). Each Unit will consist of one common share (“Share”) and one share purchase warrant of the Company (“Warrant”). Each whole Warrant will entitle the holder to acquire one Share for a period of up to 24 months from the closing date at an exercise price of $0.10 per Share.

The proceeds raised from the Offering will be used to work over existing oil wells on natural gas wells on its Sedalia project in Southern Alberta and general working capital.