Marvel welcomes new cornerstone investor at 11% premium

Marvel Gold Limited has announced a successful selective placement of 70 million shares to investors at $0.06 per share, raising a total of $4.2 million. The placement includes the addition of a new cornerstone investor, Delphi Unternehmensberatung AG, and its subsidiary Deutsche Balaton AG, who will collectively own 11.6% of the company's issued shares. The funds raised will be used for ongoing gold exploration programs in Mali, as well as for the proposed spin-out of the Chilalo Graphite Project and general working capital. The company remains committed to the spin-out transaction, pending approval from the Tanzanian Fair Competition Commission.