MPVC Inc. Announces Private Placement of Units



    WINNIPEG, April 17 /CNW/ - MPVC Inc. (the "Corporation") (TSXV: OCI)
announced today that it has retained Bieber Securities Inc. (the "Agent") as
its agent, on a best efforts basis, in connection with a private placement
(the "Offering") of up to 1,350,000 units ("Units") at a price of $0.30 per
Unit for gross proceeds to the Corporation of $405,000. 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 granted the
Agent an option to sell an additional 202,500 units at a price of $0.30, which
option is exercisable at any time prior to the closing of the Offering. The
Corporation has also reserved the right to sell up to 400,000 Units at a price
of $0.30 per Unit on a non-brokered basis.
    The proceeds of the Offering will be used for working capital and other
corporate purposes.
    As consideration for the Agent's services, the Corporation has agreed to
pay to the Agent the following compensation: (i) a commission in the amount of
8% of the gross proceeds of the Offering, which commission may, at the option
of the Agent, be paid in Shares at a price of $0.30 per Share, subject to
regulatory approval; (ii) broker warrants entitling the holder thereof to
acquire Shares in an amount equal to 8% of the number of Shares sold by the
Agent, which broker warrants shall have the same terms as the Warrants; and
(iii) a corporate finance fee of $5,000.
    The private placement is subject to the approval of the TSX Venture
Exchange (the "TSXV"). 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: please contact Graham Kemp, Chief Executive
Officer 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