Magnum Energy Inc. (TSX VENTURE:MEN) announce, that further to its press release dated June 20, 2012, it has completed a second and final closing pursuant to its previously announced public offering by short form prospectus dated June 4, 2012 and has issued $2,225,000 11% subordinated convertible secured debentures at a price of $1,000 per debenture on August 8, 2012 lead by Macquarie Private Wealth Inc.

In addition, broker warrants were issued entitling the holder to acquire up to 1,483,833 common shares at a purchase price of $0.15 for a period ...