MLB Industries Inc.

MLB Industries Inc.

May 07, 2007 17:50 ET

MLB Industries Inc.: News Release

LETHBRIDGE, ALBERTA--(CCNMatthews - May 7, 2007) - Mr. Robin Ray, President of MLB Industries Inc. (CNQ:MLBQ) (the "Corporation") announces that the Corporation has entered into settlement agreements with creditors in connection with the settlement of $208,352 owed to various creditors, some of whom are related parties to the Corporation. The Corporation will issue 8,334,080 common shares of the Corporation at a deemed issue price of $0.025 per common share. The shares for debt transaction is subject to CNQ approval and the common shares will be subject to a four month hold period from the closing date.

The CNQ does not except responsibility for the adequacy or accuracy of this news release.

Contact Information

  • MLB Industries Inc.
    Mr. Robin Ray
    (403) 327-3094
    (403) 320-2801 (FAX)
    MLB Industries Inc.
    1274 3rd Avenue South
    Lethbridge, Alberta T1J 0J9