MLB Industries Inc.
CNQ : MLBQ

MLB Industries Inc.

April 10, 2006 19:00 ET

MLB Industries Inc.: Press Release

CALGARY, ALBERTA--(CCNMatthews - April 10, 2006) - MLB Industries Inc., (CNQ:MLBQ) of Calgary, Alberta, Canada is a holding company presently having as its wholly owned subsidiaries: Hayshed Trailers Ltd., Lethbridge, Alberta, Canada. OSR Systems Ltd. Calgary, Alberta, Canada., presently having as its partially owned subsidiaries: Mountain West Technologies Inc. (70% owned), Lethbridge, Alberta, Canada, OSR Global Systems Ltd. (Australia) has recently been incorporated and will be 70% owned by MLB Industries Inc.

The management of MLB Industries is pleased to announce that it has recently approved and is now in the process of completing Private Placement of its common treasury shares to take place immediately.

The Placement which is being done through close friends and associates will be for 1,000,000 (one million) common treasury shares at a price of $0.15 per common share, which will give the company net cash proceeds of $150,000.00 to be used to reduce outstanding loans of $93,000.00 and the balance to be used as working capital.

Presently there are 22,379,587 common shares outstanding and after completion of the private placement there will be 23,379,587 common shares outstanding.

Also, the management of MLB Industries Inc. has approved a conversion of debt owing to one of its Officers and Directors in the amount $38,000.00, this debt will be converted at a price of $0.15 per common share in exchange for 253,333 common treasury shares.

Also, the company has renewed its option agreements with its Employees, Consultants, Directors and Officers.

The amount of options which bear a 2 year and 4 year term period will be a total of 1,800,000 shares of which 150,000 Employee shares are priced at $0.15 per share and 100,000 Employee shares are priced at $0.20 per share.

The balance of 1,550,000 option shares are priced at $0.15 per common share, these shares carry a four year term period.

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