MPH Ventures Corp.
TSX VENTURE : MPS
FRANKFURT : IJA1

MPH Ventures Corp.

May 01, 2008 13:13 ET

MPH Ventures Closes Private Placements With MineralFields Group and Others

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 1, 2008) - MPH Ventures Corp. (TSX VENTURE:MPS) (FRANKFURT:IJA1) (the "Company") announces that it has issued a total of 2,970,000 units pursuant to the first tranche closing of a flow-through private placement and a non-flow-through private placement originally announced April 7, 2008.

A total of 2,000,000 flow-through units and 970,000 non-flow-through units were issued, in each case at $0.20 per unit. Each flow-through unit consists of one flow-through common share and one share purchase warrant which entitles the holder to purchase one additional common share for a period of one year from the date of issue at a price of $0.30 per share and thereafter for a further one year from the date of issue, at a price of $0.35 per share. Each non-flow-through unit consists of one common share and one share purchase warrant which entitles the holder to purchase one additional common share for a period of two years from the date of issue, at a price of $0.20 per share.

The MineralFields Group acquired 2,000,000 of the 4,000,000 flow-through units offered. "We are very pleased to be entering into this relationship with MineralFields Group" said James G. Pettit, President and CEO. "This is an important milestone in the growth of MPH Ventures Corp. and we look forward to working with MineralFields Group as we develop our holdings in the on the Company's 100% owned Pidgeon Molybdenum Deposit project located at the east end of Lateral Lake near Dryden in NW Ontario."

The common shares and warrants issued under the placements, and any shares issued pursuant to the exercise of the share purchase warrants, are subject to a four month hold period under applicable securities laws and imposed by the TSX Venture Exchange expiring September 1, 2008.

The Company paid cash finders' fees totalling $30,000 in connection with the flow-through private placement and issued 17,000 non-flow-through units as a finder's fee in connection with the non-flow-through private placement. The 17,000 finder's units have the same terms and conditions as the units issued under the non-flow-through private placement described in the foregoing.

About MPH Ventures Corp.

MPH Ventures Corp. is a molybdenum and precious metal exploration company focused on mineral development within Canada and Latin America.

For further information on MPH Ventures Corp. (TSX VENTURE:MPS) visit the Company's web site at www.mphventurescorp.com.

About MineralFields Group

MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds. Information about MineralFields Group is available at www.mineralfields.com.

ON BEHALF OF THE BOARD OF DIRECTORS

JAMES G. PETTIT, President

This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the British Columbia Securities Commission and the United States Securities & Exchange Commission.

The TSX Venture Exchange and Frankfurt Exchange have not reviewed and do not accept responsibility for the adequacy or accuracy of the content of this news release.

Contact Information

  • MPH Ventures Corp.
    James G. Pettit
    President
    (604) 687-3376 or Toll Free: 1-800-567-8181
    (604) 687-3119 (FAX)
    or
    MPH Ventures Corp.
    Don Myers
    Director
    (604) 687-3376 or Toll Free: 1-800-567-8181
    (604) 687-3119 (FAX)
    Email: info@mphventures.com
    Website: www.mphventurescorp.com