Marshall, Eden Roc in 2-stage placement

In the first stage, Marshall has agreed to purchase 1.5 million shares for $450,000 and will receive an option to purchase 1.5 million shares at the same price during a 2-year period. The proceeds will be used mainly to conduct a confirmatory drill program on Eden Roc’s Ivory Coast property.

Marshall may complete the second stage by purchasing a further five million shares of Eden Roc at 30 cents each and receiving an option to purchase five million shares at the same price during a 3-year period.

If the second stage is completed, Marshall will become the dominant shareholder of Eden Roc. Norman Brewster is currently president of both companies. The 2-stage placement is subject to regulatory approval and to the approval of Eden Roc shareholders who will vote at a special meeting in April.

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