May 16, 2006 11:56 ET

CPVC Financial Inc. Announces Closing of Financing

CALGARY, ALBERTA--(CCNMatthews - May 16, 2006) -

(Not for dissemination in the United States of America)

CPVC FINANCIAL INC. (NEX:DME.H) (the "Corporation") announces that it has closed the second tranche of its previously announced private placement. The Corporation sold 1,300,000 units at a price of $0.05 per unit for gross proceeds of $65,000 (the "Private Placement"). Each unit (the "Units") consists of one common share and one warrant, with each warrant entitling the holder thereof to purchase one common share at a price of $0.10 per share for a period of one year (the "Warrants"). The Corporation intends to use the proceeds to review and pursue potential companies, businesses and assets with a view of completing a reactivation transaction.

The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy and accuracy of this release.

Contact Information

  • CPVC Financial Inc.
    Alain Lambert
    President and CEO
    (514) 392-9419