Family Memorials Inc.
TSX VENTURE : FAM

Family Memorials Inc.

February 23, 2010 17:35 ET

Family Memorials Announces Proposed Financing

THUNDER BAY, ONTARIO--(Marketwire - Feb. 23, 2010) - Family Memorials Inc. (TSX VENTURE:FAM) (the "Corporation") announces that it has signed a letter of intent with Macquarie Private Wealth Inc. ("Macquarie") to sell, on a commercially reasonable efforts basis, a minimum of 10,000,000 and a maximum of 20,000,000 Common Shares of the Corporation at $0.08 per share, for gross proceeds of $800,000 and $1,600,000, respectively. Macquarie shall be paid a 10% commission and will receive an option, exercisable for 24 months from the closing date of the proposed offering, to acquire, at a price of $0.08 per share, up to 10% of the Common Shares sold pursuant to the offering. The offering will be made under a Short Form Prospectus in Ontario, Manitoba, Saskatchewan, Alberta, and British Columbia. The offering is subject to due diligence by Macquarie, formal documentation, and regulatory approval.

About Family Memorials

The Corporation is in the business of consolidating retail businesses selling granite monuments for placement on individual cemetery lots. The Corporation has seven Canadian sales outlets and carries on business through its wholly-owned subsidiaries Grajack Industries Ltd. in Belleville, Ontario; R.H. Verduyn Granite Co. Ltd., in Peterborough, Ontario; Barber Monuments Ltd. in St. Catharines, Ontario; and Somerville Memorials Ltd. in Calgary, Alberta; and under the Family Memorials banner in Brandon, Manitoba, and Regina, Saskatchewan, and in Swan River, Manitoba through its exclusive agent, Heritage Memorial Gardens.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (as that term is defined in the policies of the TSX Venture Exchange) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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