PROFILE RESOURCES INC.

PROFILE RESOURCES INC.

March 04, 2005 11:18 ET

Profile Resources Inc. Private Placement


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: PROFILE RESOURCES INC.

TSX VENTURE SYMBOL: PFL

MARCH 4, 2005 - 11:18 ET

Profile Resources Inc. Private Placement

CALGARY, ALBERTA--(CCNMatthews - March 4, 2005) - Profile Resources Inc.
(TSX VENTURE:PFL) (the "Corporation") (TSX Venture Exchange, Tier 2
listed under symbol PFL) intends to conduct a private placement of up to
approximately 500,000 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 will entitle the holder to purchase 1 Common share
at a price of $0.10 for 2 years after its date of issue. The private
placement will be conducted in Alberta and British Columbia, and is
scheduled to close on March 20th, 2005.

The Corporation will carry out this private placement substantially
through its own efforts and without an agent. The private placement net
proceeds will be used by the Corporation for conducting ongoing
operations. Closing of this private placement is conditional on receipt
of subscription funds, execution of formal documents and the TSX Venture
Exchange's acceptance. The TSXVE has, as of the time of this News
Release, granted neither conditional nor final acceptance of this
private placement.

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

This News Release does not constitute an offer to sell, or a
solicitation of an offer to buy the Units in any jurisdiction. The Units
are not presently registered for sale in any jurisdiction, and it is
anticipated that they will not be registered for sale in any
jurisdiction, and will only be offered in Alberta and British Columbia
pursuant to exemptions under the Securities Act (Alberta, and British
Columbia).

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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.