Puget Ventures Inc.

Puget Ventures Inc.

October 31, 2007 06:30 ET

Puget Ventures Inc. Closes Its Initial Public Offering

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 31, 2007) - Puget Ventures Inc. (TSX VENTURE:PVS.P) is pleased to announce that it has successfully completed its initial public offering of 2,500,000 common shares at $0.10 per share for gross proceeds of $250,000 (the Offering) pursuant to a prospectus dated October 18, 2007. Canaccord Capital Corporation acted as agent for the Offering and was paid an administrative fee of $10,000 plus GST, a cash commission of $25,000 and an option to purchase up to 250,000 common shares in the capital of the Company at a price of $0.10 per share exercisable on or before October 31, 2009.

The Company's common shares began trading on the TSX Venture Exchange on Wednesday, October 31, 2007 under trading symbol PVS.P.

The Company has granted an aggregate of 485,000 stock options to its directors and officers pursuant to its Stock Option Plan. The options have an exercise price of $0.10 per share and an expiry date of October 31, 2012.

About Puget Ventures Inc.

Puget Ventures Inc. is a capital pool company (CPC) within the meaning of the policies of the TSX Venture Exchange. Puget Ventures Inc. has not commenced operations and has no assets other than cash. Puget Ventures Inc. proposes to identify and evaluate business and assets with a view to completing a "Qualifying Transaction" under the Exchange's CPC policies. The funds raised under the initial public offering will be used to pursue the Puget Ventures Inc.'s Qualifying Transaction. The Directors and Officers of Puget Ventures Inc. are Michael A. Dehn (CEO), Chris Couzelis (CFO), Erin Airton, Raymond Castelli, and Wilson Russell.

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

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