May 11 (Reuters) - Marvel Gold Ltd MVL.AX :
* PROPOSED INITIAL PUBLIC OFFERING OF EVOLUTION TO RAISE A MINIMUM OF $13 MILLION
* TO SPIN OUT CHILALO GRAPHITE PROJECT
* TO REMAIN FOCUSED ON GOLD EXPLORATION IN MALI
* IN ADDITION TO REPAYMENT OF EXISTING DEBT, MARVEL WILL RECEIVE BETWEEN 28% AND 43% OF SHARES ISSUED UNDER IPO
* CO'S SHAREHOLDERS TO RECEIVE PRIORITY ENTITLEMENT TO SUBSCRIBE FOR EVOLUTION SHARES IN IPO