Marengo Mining Prices Offering

- August 2nd, 2010

Marengo Mining Limited (TSE:MRN)(ASX:MGO)(POMSoX:MGO) announced that in connection with the proposed public offering previously announced on April 22, 2010 and June 16, 2010, it has entered into an agency agreement with Paradigm Capital Inc. and Fraser Mackenzie Limited (collectively, the “Agents”) to issue up to 240,000,000 units of Marengo at a price of C$0.084 (A$0.09) per Unit (the “Offering Price”) for gross proceeds to the Company of up to C$20,160,000.

Marengo Mining Limited (TSX:MRN)(ASX:MGO)(POMSoX:MGO) announced that in connection with the proposed public offering previously announced on April 22, 2010 and June 16, 2010, it has entered into an agency agreement with Paradigm Capital Inc. and Fraser Mackenzie Limited (collectively, the “Agents”) to issue up to 240,000,000 units of Marengo at a price of C$0.084 (A$0.09) per Unit (the “Offering Price”) for gross proceeds to the Company of up to C$20,160,000.

The press release is quoted as saying:

Each Unit consists of one ordinary share in the capital of the Company (a “Unit Share”) and one-quarter of one ordinary share purchase warrant of the Company (each whole ordinary share purchase warrant, a “Warrant”). Each whole Warrant will entitle the holder thereof to acquire one ordinary share in the capital of the Company (a “Warrant Share”) at an exercise price of C$0.116 (A$0.125) for a period of three years from the date of the closing of the Offering.

Click here to access the entire press release

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