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Message: NR-Non-Brokered Private Placement Announced
MPH Ventures Corp
Suite 2230 - 885 West Georgia Street
Vancouver, British Columbia
V6C 3E8
| TSX-V Trading Symbol: MPS Email: info@mphventurescorp.com |
Telephone: (604) 687-3376 Facsimile: (604) 687-3119 |
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Thu Nov 4, 2010 Non-Brokered Private Placement Announced |
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Vancouver, BC -- MPH Ventures Corp. (TSX-V: MPS) (FWB: IJA1) (the "Company") announces it has arranged a non-brokered private placement of up to 20,000,000 units at a price of $0.05 per unit to raise gross proceeds of up to $1,000,000. Each unit consists of one common share and one non-transferable share purchase warrant, with each warrant to entitle the holder to purchase one common share for a period of three years at a price of $0.10 per share. The Company may pay up to a 7.5% finder's fee, payable in cash or units, in connection with part of this private placement offering. MPH intends to utilize the proceeds of this private placement for its 3400 acre Pidgeon Molybdenum Deposit Project located approximately 50 kilometres east of Dryden, in Northwestern Ontario, and for general working capital purposes. Pidgeon Molybdenum Deposit Project Claims Map: http://www.mphventurescorp.com/s/Image.asp?i=maps/MPS-ON-Pidgeon-area-map.gif The Company is in the process of completing an update of its NI 43-101 resource estimate of its 100% owned Pidgeon Molybdenum Deposit Project. Since acquiring the project from BHP Billiton and Goldcorp in 2007, MPH Ventures has drilled over 40 holes on the project and has hit significant molybdenum intersections within open pit parameters. About MPH MPH Ventures is focused on the development of its wholly owned gold and molybdenum projects located throughout Ontario. Management of MPH has extensive expertise in identifying and adding value to exploration projects throughout Ontario, Canada. For further information on MPH Ventures Corp. (TSX-V: MPS) visit the Company's web site at www.mphventurescorp.com 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 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 news release may contain certain "Forward-Looking Statements" that may involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. For a more detailed discussion of such risks and other factors, refer to the Company's filings with Canadian Securities regulators available on www.sedar.com. |
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You can view the Previous News Releases item: Tue Aug 24, 2010, Share Issuance -- Echo Property Option Agreement |
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