OTCPK:MAUXF - Post by User
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grommeton Oct 21, 2004 2:27pm
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$6.3 million PP !
$6.3 million PP !Mart Resources to raise $6.3-million privately
Mart Resources Inc (TSX-V:MMT) Shares Issued 35,068,315Last Close 10/20/
2004 $0.44Thursday October 21 2004 - News Release
Mr. Wade Cherwayko reports
MART RESOURCES, INC. ANNOUNCES COMMON SHARE PRIVATE PLACEMENT
Mart Resources Inc. will be conducting a private placement of up to 14 million
common shares at a price of 45 cents per common share for total gross proceeds
before commissions and expenses of up to $6.3-million.
The proceeds of the private placement will be used for contracting of a service rig for
testing and recompletion activities on Mart's Nigerian oil and gas fields. In addition,
the proceeds will be used for continued evaluation and acquisition of interests in
proven undeveloped oil and gas fields in Nigeria and other West African opportunities
and for general working capital.