Combine cake ingredients and mix until smooth. Pour into prepared pan and bake approximately 45-55 min or until a inserted toothpick comes out clean. Cool 10 minutes remove from pan.
While cake is cooling add sugar and water to a small sauce pan. Melt sugar over medium heat. Once sugar is dissolved add butter, stir constantly until butter is melted and mixture becomes foamy. Remove from heat add rum (or rum flavored extract). Let cool slightly. Pour over cooled cake. Enjoy.