Marketvision Direct, Inc.

August 24, 2005 13:49 ET

Marketvision Direct, Inc. Completes First Tranche of Private Placement

TORONTO, ONTARIO--(CCNMatthews - Aug. 24, 2005) - Marketvision Direct, Inc. (TSX VENTURE:MKT) (the "Corporation" or "Marketvision") is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement of up to 4,000,000 common shares of the Corporation at a price of $0.20 per common share by issuing 1,983,000 common shares for total proceeds of $396,660. The securities issued above are subject to a four month hold period.. A finder's fee of 8% was paid to Octagon Capital Corporation on amounts placed to parties introduced by Octagon Capital Corporation.

The Corporation intends to complete one or more tranches to sell up to 2,017,000 units of the Corporation at a price of $0.20 per common share, for total additional proceeds of $403,340.

Marketvision will use the subscription amounts received from this tranche, together with other funds received by the Corporation from the exercise of outstanding warrants and an interim loan supplied by Investments and Technical Management, to fund a bridge loan of US$450,000 to Natec Inc. Marketvision is presently completing its due diligence as a condition of completing a possible larger investment in Natec.

The TSX Venture Exchange has not in any way passed upon the merits of the matters disclosed herein, and has not approved or disapproved the contents of this press release.

Contact Information

  • Marketvision Direct, Inc.
    Thomas Vukovich
    President and Chief Executive Officer
    (416) 367-0150
    (416) 367-0165 (FAX)
    Marketvision Direct, Inc.
    John Clark
    Chief Financial Officer
    (416) 367-0150
    (416) 367-0165 (FAX)