TORONTO, ONTARIO--(Marketwired - Sept. 16, 2015) - Morumbi Resources Inc. (TSX VENTURE:MOC) ("Morumbi" or the "Company") wishes to announce a proposed non-brokered private placement offering (the "Offering") of up to 200 Units at a price of $1,000 per Unit, with each Unit consisting of $1,000 principal amount of convertible unsecured debentures due August 31, 2018 (the "Maturity Date") and 20,000 share purchase warrants (the "Warrants") for aggregate gross proceeds of up to $200,000.

The Debentures will bear interest at the rate of 12% per annum, payable quarterly. Pursuant to the terms of the Debentures, and subject to customary adjustments, the subscribers may, at any time prior to the Maturity Date, convert all or any part of the principal amount outstanding under the Debentures into common shares in the capital of the Company (each, a "Share") at a conversion price of $0.05 per Share. Additionally, accrued and unpaid interest on the Debentures may, at the option of the Company, be paid to holders thereof in Shares at a conversion price equal to the closing price of the Company's shares on the last trading date prior to the expiry of the applicable interest period. Each Warrant can be exercised into Shares at an exercise price of $0.05 per Share until the Maturity Date.

The Offering is anticipated to close on or about September 21, 2015, subject to receipt of TSX Venture Exchange approval. The proceeds of the Offering will be used by the Company to finance the pursuit of accretive acquisition opportunities and for general corporate purposes. The Company is currently in discussions with vendors in connection with the potential acquisition of mineral resource assets in Latin America, a region with which the Morumbi leadership team has considerable experience. There is no binding commitment at this time and no assurance that a binding commitment will ultimately be reached. The Company will continue to update the market concerning potential acquisition activity as circumstances warrant.

About Morumbi Resources

Morumbi is a public company focused on evaluating resource opportunities in Papua New Guinea. It also has a legacy light oil property in northwest Alberta. The Company trades on the TSX Venture Exchange under the symbol "MOC".

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information

This press release includes certain "forward-looking information" within the meaning of applicable Canadian securities legislation.

Forward-looking information is based on reasonable assumptions that have been made by Morumbi as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Morumbi to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the impact of general business and economic conditions; that all conditions precedent to the Offering will be met; that any accretive acquisitions, as a result of current discussions pertaining to mineral resource assets in Latin America or otherwise, will be completed; problems inherent to the marketability of base and precious metals; industry conditions, including fluctuations in the price of base and precious metals, fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects Morumbi; stock market volatility; competition; risk factors disclosed in Morumbi's most recent Management's Discussion and Analysis available electronically on SEDAR; and such other factors described or referred to elsewhere herein, including unanticipated and/or unusual events. Many such factors are beyond Morumbi's ability to control or predict.

Although Morumbi has attempted to identify important factors that could cause actual outcomes to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate as actual outcomes and future events could differ materially from those reliant on forward-looking information.

All of the forward-looking information given in this press release is qualified by these cautionary statements and readers are cautioned not to put undue reliance on forward-looking information due to its inherent uncertainty. Morumbi disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, except as required by law. This forward-looking information should not be relied upon as representing the Company's views as of any date subsequent to the date of this press release.

Contact Information:

Morumbi Resources Inc.
Chris Buncic
President & CEO