SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 27, 1997
Mar Ventures Inc.
----------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 0-20879 95-4580642
-------- ------- ----------
(State or other jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification No.)
1675 Broadway, Suite 1150, Denver, Colorado 80202
-------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (303) 825-3748
--------------
<PAGE>
Item 5. Other Events.
--------------
Press Release. The press release of the Registrant dated October 27, 1997,
which is filed as an exhibit hereto, is incorporated herein by reference.
Item 7. Financial Statements And Exhibits.
----------------------------------
(c) Exhibits.
Exhibit Index
-------------
Exhibit
Number Description
- ------ -----------
99.1 Press release dated October 27, 1997.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: October 27, 1997 MAR VENTURES INC.
By: /s/ D. Scott Singdahlsen
-----------------------------
D. Scott Singdahlsen
President
EXHIBIT 99.1
On October 27, 1997, the Registrant issued the following press release:
" MAR VENTURES INC. REPORTS RESULTS FOR FISCAL YEAR AUGUST 31, 1997
DENVER- Mar Ventures Inc. (NASD EBB: MRVI) today announced audited
financial results for the eight month fiscal year ended August 31, 1997. On
August 6, 1997, the Company acquired PYR Energy, LLC, a development stage
independent oil and gas exploration and production company. The prior business
and related assets of Mar Ventures Inc. have been sold to its prior president
and the sole business of the Company is oil and gas exploration and production.
For the eight months ended August 31, 1997, the Company incurred a loss from
operations of ($16,920) or ($.004) per share. The Company had no revenues from
oil and gas operations and generated $80,000 in oil and gas consulting fee
revenue. At August 31, 1997, the Company had $1,376,229 in working capital,
total assets of $1,789,666 and stockholders' equity of $1,719,418. There were
9,154,804 common shares outstanding at August 31, 1997.
FISCAL YEAR ENDED AUGUST 31, 1997
---------------------------------
1997
----
Revenue $ 80,000
Net Loss ($ 16,920)
Net Loss Per Share ($ 0.004)
The Company reports it has filed a registration statement to register the
sale of up to 4,095,000 common stock shares and up to 4,095,000 common stock
shares underlying attached warrants from private placements during its fiscal
year ended August 31, 1997. Because this registration statement is not expected
to become effective for at least 30 to 45 days, the Company has extended the
expiration deadline to exercise outstanding common stock purchase warrants.
The Company has outstanding warrants to purchase 2,047,500 shares of its
common stock at an exercise price of $1.25 per share. These warrants, due to
expire on October 31, 1997, have been extended to January 15, 1998. The Company
also has outstanding warrants to purchase 2,047,500 shares of its common stock
at an exercise price of $1.75 per share. These warrants, due to expire on
January 31, 1998, have been extended to April 15, 1998.
The securities covered by the registration described above have not yet
become effective with the Securities and Exchange Commission. These securities
may not be sold, nor may offers to buy be accepted, prior to the time the
registration statement becomes effective. This press release shall not
constitute an offer to sell, or the solicitation of an offer to buy, nor shall
there be any sale of these securities in any state in which such an offer, sale
or solicitation would be unlawful prior to registration or qualification under
the securities laws of any state.
Mar Ventures Inc. applies advanced 3-D seismic and computer-aided
exploration ("CAEX") technology to systematically explore for and exploit
onshore domestic oil and natural gas accumulations in the western United States.
The Company is currently exploring for oil and gas in the San Joaquin Basin of
California and the Rocky Mountains.
####"
