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Gold/Mining/Energy : Canadian Diamond Play Cafi -- Ignore unavailable to you. Want to Upgrade?

To: Famularo who wrote (246)	10/28/2002 11:50:09 AM
From: Famularo	Respond to of 16206

Marum arranges $300,000 placement; grants stock options Marum Resources Inc MMU Shares issued 50,609,986 Oct 25 close $0.12 Mon 28 Oct 2002 News Release Mr. Richard Boulay reports INVESTOR RELATIONS, GRANT OF OPTIONS, PRIVATE PLACEMENT Marum Resources has retained the services of Kevin Yorio to assist the company as its investor relations liaison. As compensation, Mr. Yorio will be paid $2,500 (U.S.) per month for his consulting services. The company has granted incentive stock options to directors and consultants to acquire up to 1.24 million shares of the company at an exercise price of 10 cents per share for a period of three years. The foregoing is subject to regulatory acceptance. Any stock issued as a result of the exercise of these options is subject to a regulatory hold period from the date of regulatory approval. The company did not proceed with the private placement as reported in Stockwatch Aug. 27, 2002. Subject to regulatory acceptance, Marum Resources will proceed with a private placement in the amount of up to three million units of the company at a price of 10 cents per unit, for gross proceeds of up to $300,000. Each unit consists of one common share and one non-transferable share purchase warrant. One warrant and 12 cents will entitle the placee to acquire one additional common share of the company for a period of two years. Up to 100 per cent of the units may be designated as flow-through units. Insiders of the company will be participating in this financing. A finder's fee not exceeding 7 per cent may be paid on some subscriptions. No finder's fee shall be payable on amounts subscribed by insiders of the company. The proceeds from the private placement will be used to explore the company's mineral properties.