MPH Ventures Corp.
TSX VENTURE : MPS

MPH Ventures Corp.

November 19, 2007 11:37 ET

MPH Ventures Corp.: Non-Brokered Private Placement Closes

Pinetree Acquires 1,145,000 Units

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 19, 2007) - MPH Ventures Corp. (TSX VENTURE:MPS) (the "Company") announces that it has closed its 4,000,000 Unit private placement announced by News Release dated October 18, 2007. The Company raised the sum of $800,000 by the issuance of 4,000,000 Units. The Company intends to utilize the proceeds of the private placement for general working capital, its continuing obligations in Ecuador and to fund exploration on its Pidgeon Moly Project located approximately 50 kilometres east from the city of Dryden, District of Kenora, Northwestern, Ontario.

The Units are at a price of $0.20 per Unit. Each Unit consists of one common share and one share purchase warrant, which entitles the holder to purchase an additional common share at a price of $0.27 until the close of business November 15, 2008 and thereafter at a price of $0.30 until the close of business November 15, 2009.

As a finder's fee in connection with the transaction, the Company has issued a further 13,500 Units. Each finder's Unit consists of one common share and one share purchase warrant, having the same terms and conditions as the warrants referred to in the foregoing.

The common shares and warrants issued under the placement and as finder's fees, and any shares issued pursuant to the exercise of the share purchase warrants, are subject to a four month hold period under applicable securities laws, and imposed by the TSX Venture Exchange, expiring March 17, 2008.

The following pros and insiders participated in this private placement: Jim Pettit (I), Donald C. Huston (I) and Jeff Findler (P).

Pinetree Resource Partnership of Toronto, Ontario, acquired 1,145,000 units of the Private Placement.

MPH Ventures Corp. is a gold, silver, and molybdenum exploration company focused on mineral development within Canada and Latin America.

For further information on MPH Ventures Corp. (TSX VENTURE:MPS) visit the Company's web site at www.mphventurescorp.com.

ON BEHALF OF THE BOARD OF DIRECTORS

James G. Pettit, President

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

Contact Information

  • MPH Ventures Corp.
    James G. Pettit
    President
    (604) 687-3376 or Toll Free: 1-800-567-8181
    (604) 687-3119 (FAX)
    or
    MPH Ventures Corp.
    Don Myers
    Director
    (604) 687-3376 or Toll Free: 1-800-567-8181
    (604) 687-3119 (FAX)
    Email: info@mphventurescorp.com
    Website: www.mphventurescorp.com