MPVC Inc. Announces Filing of Amended Financial Statements for the Period Ended March 31, 2013

WINNIPEG, MANITOBA--(Marketwired - June 14, 2013) - MPVC Inc. ("MPVC" or the "Corporation") (TSX VENTURE:MVC.H) announces that at the request of The Manitoba Securities Commission, it has filed amended interim financial statements (the "Amended Q1 Interim Statements") and related MD&A, to comply with International Financial Reporting Standards ("IFRS") for the period ended March 31, 2013, on the SEDAR website.

The changes from the previously filed interim financial statements to the Amended Q1 Interim Statements cover the following items:

1. There is no longer reference to consolidated statements since no consolidation has occurred.
2. There is a reference to condensed statements since they are not a complete set of financial statements.
3. The condensed balance sheet (Statements of Financial Position) is now balanced.
4. The condensed statements of income and cash flows (Statements of Loss and Comprehensive Loss and Statements of Cash Flows) include the correct comparative figures for the three months ended March 31, 2012.
5. There is now a Statements of Changes in Equity included.
6. The Statements of Loss and Comprehensive Loss now include particulars of the items making up the indicated loss.
7. The cash balance on the Statements of Financial Position now matches the ending cash balance on the Statements of Cash Flows.
8. The notes to the Amended Q1 Interim Statements now include an unreserved statement of compliance with IAS 34 Interim Financial Reporting (note 2).
9. The notes to the Amended Q1 Interim Statements reference IFRS, rather than previous references to sections in the CICA Handbook.
10. The previous reference on the title page to the Corporation's annual audited financial statements having been reviewed by the auditor, has been removed. The advisory on the title page has been revised.

MPVC apologizes for any confusion caused by the interim financial statements and MD&A originally filed on May 31, 2013. The Corporation believes that the amendments noted above now present the financial information for the Corporation as at March 31, 2013, in the correct form and detail.

The common shares of the Corporation trade on the NEX exchange under the symbol MVC.H.