Proposed issue of securities - MVL

Marvel Gold Limited has announced a proposed issue of securities. The company plans to issue a maximum of 117,386,562 ordinary fully paid securities in a standard pro rata issue. The offer will be made at a price of AUD 0.045 per security for retail security holders. Individual security holders will be allowed to apply for more than their entitlement, up to a maximum of $6 million. The offer will be non-renounceable, and if oversubscribed, shareholders will be scaled back in equal proportions. The purpose of the funds raised will be to continue exploration at the company's gold projects in Mali and for general working capital.