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Magnum Mining & Exploration Ltd. - Non-Renounceable Rights Issue Closed

August 29, 2014



ENP Newswire - 29 August 2014

Release date- 27082014 - Magnum Mining and Exploration Limited is pleased to announce that its non-renounceable entitlement offer of 1 new share in the Company for every 5 existing shares announced on 31 July 2014 closed on 20 August 2014.

The Company received valid applications for 19,129,206 New Shares representing 49.99% of the maximum number of 38,263,122 New Shares offered to eligible shareholders and total funds raised of $382,584.12 before the costs of the Rights Issue.

The Board of the Company would like to thank all eligible shareholders who participated in the Rights Issue for their continued support.

Issue and allotment of the New Shares is to occur on Wednesday, 27 August 2014 with ASX trading of the New Shares expected to commence on Thursday, 28 August 2014. The Company will seek to place the shortfall of the Rights Issue, being 19,133,994 New Shares, over the next three months at the Rights Issue offer price of $0.02 to raise up to a further $382,679.88.

Contact:

Magnum Mining and Exploration Ltd

Level 4, Suite 5

South Shore Centre

85 The Esplanade, South Perth WA

Tel: +61 8 9367 5327

Fax: +61 8 9238 0722

Email: info@mmel.com.au

Web: www.mmel.com.au


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Source: ENP Newswire


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