West Vancouver, British Columbia – May 4, 2016 – Magnum Goldcorp Inc. (the “Company” or “Magnum”) is pleased to announce that it has entered into a Loan Agreement, pursuant to which it will receive $87,500 for working capital purposes. $75,000 of the loan amount has been provided by certain directors and/or officers of the Company and the loan is for a term of 1 year with interest at a rate of 1% per month (12% per annum). Subject to receiving all required regulatory approvals, the Company has agreed to issue an aggregate of 269,231 shares to the lenders as a loan bonus in accordance with TSX Venture Exchange policy.
For further information, contact Mr. Clive Shallow, investor communications at 604-922-2030 or visit the Company’s website at www.magnumgoldcorp.com.
Magnum Goldcorp Inc.
“Douglas L. Mason”
Douglas L. Mason, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.