MPAC Industries Corporation

MPAC Industries Corporation

November 23, 2006 22:07 ET

MPAC Arranges Up to a Maximum of $60,000 Financing

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 23, 2006) - MPAC Industries Corp. (the "Company" or "MPAC") (TSX VENTURE:MPN) is pleased to announce that it has concluded negotiations for a private placement of a maximum of 600,000 units (the "Offering") at a price of $0.10 (ten cents) per unit (the "Unit").

Each Unit is comprised of one (1) common share (the "Share") and one (1) nontransferable expedited share purchase warrant (the" Warrant"). Each Warrant entitles the holder thereof to purchase one additional Share of the Company at a purchase price of $0.13 (thirteen cents) for up to one (1) year from the date of closing, subject to the Accelerated Expiry provision described below.

Accelerated Expiry of Warrants: In the event the closing trading or quotation price of the common shares of the Issuer on the TSX Venture Exchange (the "Exchange") is Cdn $0.20 (twenty cents) per common share or higher over a period of twenty (20) consecutive trading or quotation days beginning on or after the date that is four (4) months and one (1) day after the date of issuance of the Warrants, the Issuer shall be entitled, following the issuance of a press release notifying holders of the Warrants of such event (the "Notice"), to accelerate the expiry date to the date that is ten (10) business days after the date the Issuer issues the Notice.

The Offering is on non-brokered basis, and the proceeds from the Offering will be used for general working capital and to advance the Company's proposed coal refining activity in Turkey.

The Offering is subject to acceptance by the securities regulatory authorities.


Firoz Lakhani, President and CEO

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

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