News Column

Marifil Mines Limited Announces Closing of Private Placement

Mar 18 2013 12:00AM

Marketwire

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VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/18/13 -- MARIFIL MINES LTD. (TSX VENTURE: MFM) ("Marifil" or "the Company") is pleased to report that it has completed and closed its previously announced private placement consisting of 19,000,000 units (the "Units") at $0.05 per Unit for gross proceeds of $950,000 subject to final Exchange approval. Each Unit consists of one common share of the Company and one common share purchase warrant exercisable at $0.10 per share for a period of five years. In connection with the private placement, the Company paid finder's fees comprised of an aggregate of $52,500 in cash and issued an aggregate of 1,050,000 finder's warrants exercisable to acquire one common share of the Company at a price of $0.05 per share until February 28, 2015. All of the securities issued will be subject to a statutory hold expiring on June 29, 2013 (14,000,000 Units) and July 14, 2013 (5,000,000 Units).

The proceeds from the private placement will be used for exploration and development activities on the Company's properties and general working capital purposes.

For further information regarding Marifil Mines Ltd., please refer to the Company's filings available on SEDAR (http://www.sedar.com) or at Marifil's Website (http://www.marifilmines.com.)

General Disclaimer

Marifil Mines Ltd. "Marifil", has taken all reasonable care in producing and publishing information contained in this news release, and will endeavor to do so on a periodic basis. Material in this news release may still contain technical or other inaccuracies, omissions, or typographical errors, for which Marifil assumes no responsibility. Marifil does not warrant or make any representations regarding the use, validity, accuracy, completeness or reliability of any claims, statements or information on this site. Under no circumstances, including, but not limited to, negligence, shall Marifil be liable for any direct, indirect, special, incidental, consequential, or other damages, including but not limited to, loss of programs, loss of data, loss of use of computer of other systems, or loss of profits, whether or not advised of the possibility of damage, arising from your use, or inability to use, the material from this news release. The information is not a substitute for independent professional advice before making any investment decisions. Furthermore, you may not modify or reproduce in any form, electronic or otherwise, any information on this site, except for personal use unless you have obtained our express written permission.

Forward-Looking Statements

This news release may contain forward-looking statements, including but not limited to comments regarding predictions and projections. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.



Contacts:
Head Office:
Marifil Mines Ltd.
John Hite, President
702.562.4880
info@marifilmines.com
www.marifilmines.com

Investor Relations:
Ascenta Capital Partners Inc.
Hugh Oswald
604.684.4743 ext. 243
Toll Free: 1.866.684.4743 ext. 243
hugh@ascentacapital.com





Source: Marketwire


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