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Marauder Resources East Coast Inc. Announces Issuance of Bonus Shares
By: Marketwired .
Jan. 31, 2013 08:06 PM
CALGARY, ALBERTA -- (Marketwire) -- 02/01/13 -- Marauder Resources East Coast Inc. (TSX VENTURE:MES) ("Marauder" or the "Corporation") announces that the Corporation has issued 1,428,571 common shares in the capital of the Corporation as bonus shares to an arm's length third party (the "Lender") at a deemed price of $0.07 per share in consideration of a loan ("Loan") advanced by the Lender to the Corporation on April 12, 2012 in the principal amount of $500,000. The Loan is unsecured, non-convertible, carries an interest rate of 3.0% per annum, and is evidenced by a loan agreement dated January 10, 2013.
The bonus shares issued are subject to a four month hold period and will become free trading on May 28, 2013.
On January 24, 2013, the TSX Venture Exchange accepted for filing documentation pursuant to the issuance of bonus shares.
This press release may contain forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, anticipations, expectations, opinions, forecasts, projections, guidance or other similar statements that are not statements of fact. Although the Corporation believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. These risks include, but are not limited to: the risks associated with the oil and gas industry (e.g. operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses and health, safety and environmental risks), commodity price and exchange rate fluctuation and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures. The Corporation's forward-looking statements are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained in this press release are made as of the date hereof and the Corporation undertakes no obligations to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Neither the 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.
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