Mon Nov 19, 2007 Non-Brokered Private Placement Closes, Pinetree Acquires 1,145,000 Units
Vancouver, BC -- MPH Ventures Corp. (TSX-V: MPS) (the "Company") announces that it has closed its 4,000,000 Unit private placement announced by News Release dated October 18, 2007. The Company raised the sum of $800,000 by the issuance of 4,000,000 Units. The Company intends to utilize the proceeds of the private placement for general working capital, its continuing obligations in Ecuador and to fund exploration on its Pidgeon Moly Project located approximately 50 kilometres east from the city of Dryden, District of Kenora, Northwestern, Ontario.
The Units are at a price of $0.20 per Unit. Each Unit consists of one common share and one share purchase warrant, which entitles the holder to purchase an additional common share at a price of $0.27 until the close of business November 15, 2008 and thereafter at a price of $0.30 until the close of business November 15, 2009.
As a finder's fee in connection with the transaction, the Company has issued a further 13,500 Units. Each finder's Unit consists of one common share and one share purchase warrant, having the same terms and conditions as the warrants referred to in the foregoing.
The common shares and warrants issued under the placement and as finder's fees, and any shares issued pursuant to the exercise of the share purchase warrants, are subject to a four month hold period under applicable securities laws, and imposed by the TSX Venture Exchange, expiring March 17, 2008.
The following pros and insiders participated in this private placement: Jim Pettit (I), Donald C. Huston (I) and Jeff Findler (P).
Pinetree Resource Partnership of Toronto, Ontario, acquired 1,145,000 units of the Private Placement.
MPH Ventures Corp. is a gold, silver, and molybdenum exploration company focused on mineral development within Canada and Latin America.
ON BEHALF OF THE BOARD OF DIRECTORS
"Jim Pettit"
________________________________
JAMES G. PETTIT
President
For further information contact myself or:
Don Myers
MPH Ventures Corp.
Director
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@mphventurescorp.com
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
You can view the Next News Releases item: Tue Nov 20, 2007, MPH Ventures Acquires 2,900 Acres Surrounding Its Pidgeon Molybdenum Deposit, NW Ontario
You can view the Previous News Releases item: Wed Nov 7, 2007, Purchase from Rio Algom and Goldcorp of Pidgeon Molybdenum Mines Shares Closes
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