VANCOUVER, B.C. – MARIFIL MINES LTD. (TSX-V: 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 Contact:
John Hite, President
Hugh Oswald, Ascenta Capital Partners Inc.
Phone: 604.684.4743 ext. 243
Toll Free: 1.866.684.4743 ext. 243
This press release has been reviewed and approved by John Hite, President of Marifil Mines Ltd. and by Richard Walters, Vice President under whose directions the exploration program is being carried out. Mr. Hite and Mr. Walters are Qualified Persons as defined by National Instrument 43-101.
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