CALGARY, ALBERTA -- (Marketwire) -- 01/10/13 -- Marauder Resources East Coast Inc. ("Marauder" or the "Corporation") (TSX VENTURE: MES) announces the execution of agreements (the "Agreements") for shares for past services provided by Messrs. Robert V. Shields and John Loewen, each a director of the Corporation. Under the Agreements, Marauder will issue an aggregate of 11,616,857 common shares in the capital of the Corporation (the "Common Shares") having an deemed issue price of $0.07 per Common Share. Mr. Shields will be issued 7,866,857 Common Shares in full satisfaction of obligations of $550,680 owed to Mr. Shields. Mr. Loewen will be issued 3,750,000 Common Shares in full satisfaction of obligations of $262,500 owed to Mr. Loewen.
The transactions contemplated by the Agreements are subject to the approval of the TSX Venture Exchange.
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.
Marauder Resources East Coast Inc.
Robert V. Shields
Marauder Resources East Coast Inc.
720, 440 - 2nd Avenue S.W.
Calgary, Alberta T2P 5E9
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