Marifil Grants Extension of Letter of Intent for the K-2 Potash Property
02/23/2011 09:00 AM ET
VANCOUVER, BRITISH COLUMBIA, Feb 23, 2011 (Marketwire via COMTEX News Network) -- MARIFIL MINES LTD. (TSX VENTURE:MFM) ("Marifil" or "the Company") announces that it has granted Saccharum Energy Corp. (TSX VENTURE:SHM) of Calgary, AB, an extension until March 31, 2011 to complete the financing and closing for Marifil's K-2 Potash property in Neuquen Province, Argentina (see News Release dated December 21, 2010).
Saccharum has agreed to pay $20,000 for the exclusive extension. Saccharum has informed the Company that it has signed an Engagement Letter with a major investment bank and that this institution has requested the extension to allow time to complete a financing on behalf of Saccharum.