YSV Ventures Inc.

January 07, 2005 10:31 ET

YSV Ventures Inc. Announces Private Placement




JANUARY 7, 2005 - 10:31 ET

YSV Ventures Inc. Announces Private Placement

TORONTO, ONTARIO--(CCNMatthews - Jan. 7, 2005) - YSV Ventures Inc.
("YSV") (NEX Board:XSVH) is pleased to announce that it has completed
the first tranche of a proposed private placement and raised gross
proceeds of $204,360 through the issuance of a total of 2,046,300 common
shares at a price of $0.10 per common share. $85,000 of the gross
proceeds were raised through the issuance of flow-through shares. YSV
intends to issue up to an additional 1,453,700 common shares under the
offering for a total proposed issuance of up to 3,500,000 common shares
and gross proceeds of up to $350,000. All common shares will be subject
to a hold period of four months from the date of issue of the common
shares. The hold period for the first tranche of common shares will
expire on April 30, 2005.

YSV intends to use the proceeds of the private placement for working
capital purposes and to source and potentially acquire interests in
exploration projects and for administrative and operating expenses.

YSV also announces the following additional developments:

1. The company has granted an aggregate of 1.2 million options to
purchase common shares to four directors of the Company. Each option is
exercisable at price of $0.10 per share for a period of five years. All
options are subject to vesting provisions and regulatory approval. All
common shares issuable upon exercise of the options are subject to a
four-month period from the date of grant of the options.

2. Paul Vorvis has resigned as a director of YSV and has been replaced
by Michael Newbury.

3. John Cerenzia has been appointed as President of YSV.

Some of the statements contained in this release are forward-looking
statements, such as estimates and statements that describe YSV's future
plans, objectives or goals, including words to the effect that YSV or
management expects a stated condition or result to occur. Since
forward-looking statements address future events and conditions, by
their very nature, they involve inherent risks and uncertainties. Actual
results in each case could differ materially from those currently
anticipated in such statements.


Contact Information

    YSV Ventures Inc.
    Alpha Pang
    (416) 703-1892
    (416) 703-1897 (FAX)