MPAC Industries Corporation
TSX VENTURE : MPN

MPAC Industries Corporation

October 13, 2006 11:41 ET

MPAC Industries Corp. Closes $405,000 Private Placement Offering

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 13, 2006) - MPAC Industries Corporation (the "Company") (TSX VENTURE:MPN) announces that, further to its News Release of August 28, 2006, the TSX Venture Exchange has accepted for filing documentation with respect to its Non-Brokered Private Placement comprising of 4,050,000 units with twenty-eight Placees at a price of $0.10 per unit.

Each unit (a "Unit") is comprised of one (1) common share and one (1) non-transferable share purchase warrant. Each warrant entitles the holder thereof to purchase one additional common share of the Company at a purchase price of $0.15 (fifteen cents) if exercised in year one, or at a price of $0.25 (twenty five cents) if exercised in year two from the date of closing.

The shares are subject to a hold period of four months for all placees expiring as of February 12th, 2007.

BY THE ORDER OF THE BOARD

Firoz Lakhani, President & CEO

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

The TSX Venture Exchange neither approved nor disapproved the contents of this news release.

Contact Information

  • MPAC Industries Corporation
    Richard Hall
    Investor Relations
    (604) 644-2244