Poly-Pacific International Inc.
OTC Bulletin Board : PLYPF

Poly-Pacific International Inc.

December 24, 2008 14:52 ET

Poly-Pacific International Inc. Announces a Non-Brokered Expedited Private Placement & Option Grant

CALGARY, ALBERTA--(Marketwire - Dec. 24, 2008) - Poly-Pacific International Inc. ("Poly-Pacific" or the "Company") (TSX VENTURE:PMB)(OTCBB:PLYPF)(BERLIN:A0LGDN)(FRANKFURT:POZ) announced today that it has completed the closing of an expedited private placement, raising gross proceeds of $368,372, subject to TSX Venture Exchange final acceptance. The proceeds from the placement will be used for general operating capital. The private placement consisted of the issuance of 12,279,064 units ("Units") at $0.03 per Unit. Each Unit consisted of one common share and one common share purchase warrant ("Warrant"). The Warrants are exercisable at a price of $0.10 for the first 12 months from the date of issuance thereof, and at a price of $0.20 for the next 12 months, and will expire December 24, 2010. The securities issued under the private placement are subject to a four-month hold period which expires April 25, 2009. The Corporation paid Finder's Fees of $12,547.20 to an arm's length party in connection with the placement. Insiders participated in the private placement for total gross proceeds of $30,000.

The Company also announced today that, subject to regulatory approval as required, the Company intends to grant 1,750,000 stock options, in the aggregate, to directors of the Company. The options will have an exercise price of $0.10, and will expire on December 24, 2013. The Company has determined that exemptions from the various requirements of the TSX Venture Exchange Policy 5.9 are available for the grant of these options.

Poly-Pacific is an innovator in eco-friendly solutions to Industrial Waste by-products. We are actively and successfully pursuing the reclamation of industrial polymers throughout the world. The significance and importance of recycling and reclaiming industrial waste has become an important global issue. At Poly-Pacific, we are focused on benefiting our planet by exploring and pursuing new environmentally sound methods and technologies in recycling, while creating significant value for our shareholders as the leading company in the reclamation sector.

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

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