Marum increases private placement to $212,500

2009-03-16 19:21 ET - News Release

Mr. Arness Cordick reports

MARUM ANNOUNCES AMENDED PRIVATE PLACEMENT OFFERING

Subject to regulatory acceptance, Marum Resources Inc. has amended the terms of its private placement previously announced in Stockwatch on March 10, 2009, such that the number of offered units is increased to 2.5 million, and such that the offered shares and warrants will now be issued on a flow-through basis. As a result, the company is now offering a non-brokered private placement offering of up to 2.5 million flow-through units at a price of 8.5 cents per flow-through unit for gross proceeds of up to $212,500. Each flow-through unit will comprise one common share of the company issued on a flow-through basis and one flow-through share purchase warrant. Each warrant will entitle the holder to purchase one flow-through share at a price of 13 cents per flow-through share for a period of 24 months from the date the warrant is issued. The offering is expected to close on or before April 8, 2009.

Insiders of the company are subscribing for up to 100 per cent of the offering. Pursuant to the policies of the TSX Venture Exchange, the sale of units to these insiders constitutes a related-party transaction as defined in Multilateral Instrument 61-101 -- Protection of Minority Securityholders in Special Transactions. The transaction, however, will be exempt from applicable formal valuation and minority shareholder approval requirements as the fair market value of the units does not exceed 25 per cent of the market capitalization of the company.

No fees or commissions shall be payable in connection with this placement. The net proceeds from the offering will be used to explore the company's gold properties and for general corporate purposes. All dollar amounts are in Canadian dollars unless otherwise noted.

The offering is subject to receipt of all necessary approvals, including the approval of the TSX-V.