PROFILE RESOURCES INC.

PROFILE RESOURCES INC.

March 21, 2005 17:10 ET

Profile Resources Inc. Completes Private Placement


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: PROFILE RESOURCES INC.

TSX VENTURE SYMBOL: PFL

MARCH 21, 2005 - 17:10 ET

Profile Resources Inc. Completes Private Placement

CALGARY, ALBERTA--(CCNMatthews - March 21, 2005) - Profile Resources
Inc. (TSX VENTURE:PFL) (the "Corporation") (TSX Venture Exchange, Tier 2
listed under symbol PFL) is pleased to announce the TSX Venture
Exchange's final acceptance of, and the completion of its previously
announced private placement of 500,000 Common Units at a price of
$0.0525 per Unit for aggregate proceeds of $26,250.00. Each unit
comprises one Common share and one warrant. Each warrant entitles the
holder to purchase 1 Common share at a price of $0.10 until March 20th,
2007. The private placement was conducted only in British Columbia. All
securities issued as part of this private placement are under a 4 month
hold period ending on July 22nd, 2005.

As the Corporation carried out this private placement without an agent,
no commissions or fees are due to any party for this transaction, other
than the Corporation's own legal, auditing and regulatory filing
expenses.

There will be no change to the board, or control of the Corporation as a
result of this transaction.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Profile Resources Inc.
    Thomas M.M. Bender
    President
    (403) 282-3111
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.