PGM Ventures Corporation

PGM Ventures Corporation

March 28, 2005 15:45 ET

PGM Ventures Corporation Completes Private Placement


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: PGM VENTURES CORPORATION

TSX VENTURE SYMBOL: PPG

MARCH 28, 2005 - 15:45 ET

PGM Ventures Corporation Completes Private Placement

TORONTO, ONTARIO--(CCNMatthews - March 28, 2005) - PGM Ventures
Corporation (TSX VENTURE:PPG) ("PGM") is pleased to announce the closing
of a private placement for gross proceeds of $800,000 on March 14, 2005.

Pursuant to this private placement, PGM issued 1,600,000 units on March
14, 2005 on a non flow-through basis at $0.50 per unit. Each unit
consists of one common share of PGM and one-half of one common share
purchase warrant of PGM. Each whole common share purchase warrant
entitles the purchaser to purchase one common share at an exercise price
of $0.57 at any time on or before 5:00 p.m. (Toronto time) on the date
that is 24 months from the date of issuance of the warrant. Both the
common shares and the common share purchase warrants have a hold period
of four months expiring on June 3, 2005.

Canaccord Capital Corporation, acting as agent for the brokered portion
of this tranche of the placement, received a finder's fee in the amount
of $27,500 representing 10% of the gross proceeds of the brokered
portion of the private placement and a warrant to purchase up to 55,000
common shares of PGM on the same terms as the warrants forming part of
the units, for a 12 month period.

PGM will use the gross proceeds of the private placement to conduct
further work on its properties in Spain and for general working capital
purposes.

PGM is a tier 2 junior resource company, quoted for trading on the TSX
Venture Exchange under the symbol "PPG". There are currently 55,460,176
shares issued in PGM, including the shares issued pursuant to this
private placement.

This press release includes certain "Forward-Looking Statements" within
the meaning of the US Private Securities Reform Act of 1995. Other than
statements of historical fact, all statements are "Forward-Looking
Statements" that involve such various known and unknown risks,
uncertainties and other factors. There can be no assurance that such
statements will prove accurate. Results and future events could differ
materially from those anticipated in such statements. Readers of this
press release are cautioned not to place undue reliance on these
"Forward-Looking Statements". All dollar amounts are Canadian dollars
unless otherwise noted.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    PGM Ventures Corporation
    Jim Voisin
    (519) 699-5352
    www.pgm-ventures.com
    The TSX Venture Exchange Inc. has neither approved nor disapproved the
    information herein contained.