Acrex Ventures closes 7,800,000 units private placement


    Symbol "AKV": TSX Venture Exchange
    SEC Form 20F Registration CIK: 1194506
    Symbol "AXVEF": OTC BB

    VANCOUVER, Aug. 15 /CNW/ - Acrex Ventures Ltd. ("Acrex") has closed the
first tranche of the private placement announced in its July 19, 2007 Press
Release through its best efforts Agent, PI Financial Corp. The Company has
sold 2,800,000 Units ("Units") for $0.18 per Unit, and 5,000,000 flow-through
Units ("FT Units") for $0.22 per FT Unit - for which the Company has received
gross proceeds of $1,604,000.
    Each Unit will consist of one non flow-through common share and one-half
of a 2-year transferable common share purchase warrant entitling the purchase
of one additional common share at $0.50 per share.
    Each FT Unit will consist of one flow-through share and one-half of a
2-year transferable common share purchase warrant entitling the purchase of
one additional non flow-through common share at $0.50 per share.
    The Agent's compensation included a 7% commission paid as to $65,208.02
in cash, and the balance as to 261,511 Units at a deemed price of $0.18 per
Unit. The Agent's Units have the same terms as the Units of the Offering. The
Agent also received 624,000 compensation options entitling the Agent to
purchase up to 614,000 non flow-through shares at an exercise price of
$0.23 per share.
    All of the shares which are issued as part of the FT Units and Units, and
pursuant to the exercise of the warrants, are subject to 4 month hold periods
- which will expire December 15, 2007.

    This News Release does not constitute an offer to sell or a solicitation
of an offer to sell any of securities in the United States. The securities
have not been and will not be registered under the United States Securities
Act of 1933, as amended (the "U.S. Securities Act") or any state securities
laws and may not be offered or sold within the United States or to U.S.
Persons unless registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is available.



    T.J. Malcolm Powell,

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

For further information:

For further information: Investor Relations - Tel: (604) 618-1758, Fax:
(604) 687-4212, e-mail:, website:

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