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| | Fri Oct 3, 2008
Magnum Uranium Announces Results of AGM
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| | Vancouver, B.C. - Magnum Uranium Corp. ("Magnum" or the "Company") is pleased to announce the results of Annual General Meeting held on September 26, 2008. The shareholders approved all motions put forth at the meeting and ratified the Stock Option Plan.
The incumbent directors of Magnum, Craig Lindsay, Patrick Downey, Dr. John Carden, Craig Schneider and Norm Eyolfson, were re-elected for the coming year. Following the meeting, the Magnum Board of Directors appointed Craig Lindsay as President & CEO and Bob Nowell as CFO and Secretary. An Audit Committee was appointed comprising Dr. John Carden, Mr. Craig Schneider and Mr. Craig Lindsay.
Magnum also advises that it is re-pricing its incentive stock options to certain directors, officers, employees and consultants in order to retain and provide proper incentive for the Company's key directors and staff in the current market downturn which has occurred at a time when the industry is still aggressively competing for qualified personnel. The Company is therefore re-pricing 2,600,000 incentive stock options outstanding in favour of directors, officers, employees and consultants, from exercise prices ranging from $.45 to $.90 to a new exercise price of $0.35 per share, subject to regulatory approval.
About Magnum
Magnum is a Vancouver-based minerals exploration company focused on the acquisition and development of uranium assets in North America. Currently, Magnum's primary property holdings are located in the Western United States, specifically Wyoming, Utah, Idaho, and New Mexico, as well as in Canada's Athabasca Basin.
ON BEHALF OF THE BOARD
"Craig T. Lindsay"
President & CEO
For additional information please contact:
Tel: 604.683.2507 Fax: 604.683.2506
E-Mail: info@magnumuranium.com
THE TSX VENTURE EXCHANGE HAS NEITHER APPROVED OR DISAPPROVED OF THE CONTENTS HEREIN.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. |
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| | You can view the Next News Releases item: Fri Oct 3, 2008, Magnum Uranium Announces High-Grade Drill Results from the Down Yonder Deposit Portion of its San Rafael Project
You can view the Previous News Releases item: Thu Sep 18, 2008, Magnum Issues NI 43-101-compliant Uranium Resource on the Deep Gold Portion of its San Rafael Project, Utah
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