MPAC Industries Corporation

MPAC Industries Corporation

August 05, 2008 12:12 ET

MPAC Closes Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 5, 2008) - MPAC Industries Corporation (the "Company") (TSX VENTURE:MPN) announces that, further to its News Release of June 23, 2008, pursuant to the conditional acceptance from the Exchange received May 26, 2008, it has closed the non-brokered private placement (the "Placement") comprised o 3,200,000 units with five (5) placees at a price of $0.08 per unit (the "Unit") for a total of $256,000. One (1) insider has purchased 500,000 of the Units or approximately fifteen percent (15%) of the Placement. Final acceptance for the close of the Placement will now be sought from the Exchange.

Each Unit is comprised of one (1) common share of the Company (the "Share") and one (1) non-transferable one (1) year share purchase warrant (the "Warrant"). Each Warrant entitles the holder to purchase one (1) additional Share of MPAC at a purchase price of $0.12 if exercised within twelve (12) months from the date of closing (the "Closing").

The shares allotted and issued pursuant to the private placement are subject to a hold period and may not be traded in British Columbia until December 4, 2008, except as permitted by the British Columbia Securities Act and Regulations made thereunder. In addition, without prior written approval of the TSX Venture Exchange and compliance with all applicable securities legislation, the shares may not be sold, transferred, hypothecated or otherwise traded on or through the facilities of the TSX Venture Exchange or otherwise in Canada or to or for the benefit of a Canadian resident until December 4, 2008.


J. Richard W. Hall, President & CEO

The TSX Venture Exchange neither approved nor disapproved the contents of this news release. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

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