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CALGARY, ALBERTA--(Marketwire - March 5, 2013) - MENA Hydrocarbons Inc. ("MENA" or the "Company") (TSX VENTURE:MNH) announced that it has completed the issuance of 9,434,292 common shares of the Company in connection with the term loans announced on November 30, 2012, and the issuance of 25,000,000 units of the Company in connection with the private placement announced on December 14, 2012. Each Unit consists of one common share and one-half of one share purchase warrant. Each whole warrant is exercisable at a price of $0.05 at any time within 12 months from the date of issue, and at a price of $0.10 thereafter until two years from date of issue. The Company expects to complete within the next several weeks the issuance of an additional 390,451 common shares pursuant to the term loans. |
