MPVC Inc. Announces Closing of Private Placement of Units



    WINNIPEG, April 27 /CNW/ - MPVC Inc. (the "Corporation") (TSXV: OCI)
announced today that it has closed its previously announced private placement
of units (the "Offering") through Bieber Securities Inc. (the "Agent") as its
agent. The Corporation sold 1,552,000 units ("Units") at a price of $0.30 per
Unit for gross proceeds to the Corporation of $465,600. Each Unit is comprised
of one common share (a "Share") and one-half of a Share purchase warrant (each
whole Share purchase warrant, a "Warrant"). Each Warrant entitles the holder
to acquire one Share at a price of $0.50 at any time for a period of 24 months
from the date of the closing of the Offering.
    The Corporation has also sold an additional 392,843 Units at a price of
$0.30 per Unit on a non-brokered basis for additional proceeds of $117,852.
    The net proceeds of the sale of Units will be used for working capital
and other corporate purposes.
    As consideration for the Agent's services, the Agent received the
following compensation: (i) a commission of $37,260, being 8% of the gross
proceeds of the Offering; (ii) broker warrants entitling the holder thereof to
acquire 124,200 Shares, which broker warrants shall have the same terms as the
Warrants; and (iii) a corporate finance fee of $5,000.
    The Shares and Warrants comprising the Units will be subject to a hold
period of four months and one day from the date of the issue of the Units in
accordance with applicable securities laws and the policies of the TSXV.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.





For further information:

For further information: Graham Kemp, Chairman of the Board of the
Corporation, at (561) 880-0175

Organization Profile

MPVC INC.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890