Vancouver, BC -- MPH Ventures Corp. (TSX-V: MPS) (OTCBB:
MPSFF) (Frankfurt:
IJA2) (the 'Company') is pleased to announce, further to its news release of September 21st, the Company has increased its non-brokered private placement financing from $800,000 to $900,000.
The amended MPH Ventures financing will include up to 18,000,000 units (the 'Unit') at a price of $0.05 per unit to raise proceeds of up to $900,000. Each Unit consists of one common share and one non-transferable share purchase warrant (the 'Warrant'). Each Warrant will entitle the holder to purchase one common share, for a period of five years, at a price of $0.075 per share.
The proceeds will be used to complete MPH Ventures previously announced acquisition of a 20% interest in Travelucion, an online travel media company servicing international visitors to Cuba (see July 8th & August 14th news releases), as well as for general working capital purposes.
A finder's fee of 7% in cash and 7% in non-transferable warrants (the 'Finder's Warrants') may be paid in connection with part of this private placement. Each Finder's Warrant will entitle the finder to purchase a common share at a price of $0.075 per share for a period of five years from the closing date of the private placement.
The private placement is subject to TSX Venture Exchange acceptance.
About MPH Ventures Corp.:
MPH Ventures Corp. has approx. 14.1 million shares issued and outstanding.
For further information on MPH Ventures Corp. (TSX-V:
MPS) visit the Company's website at
www.mphventurescorp.com .
MPH VENTURES CORP.
'Jim Pettit'
JAMES G. PETTIT
President & CEO
For further information contact myself or:
Don Myers
MPH Ventures Corp.
President
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email:
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
This release includes certain statements that may be deemed to be 'forward-looking statements'. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.