MPVC Inc. Announces Private Placement and Changes in Management
(firmenpresse) - JUPITER, FLORIDA -- (Marketwired) -- 07/15/13 -- MPVC Inc. (TSX VENTURE: MPC.H) (the "Company" or "MPVC") announced today that it intends to carry out a non-brokered private placement to arm's length investors.
Application will be filed with NEX to sell up to 10,000,000 units at a price of $0.05 CDN per unit, each unit consisting of 1 common share and 1 share purchase warrant. Each warrant entitles the holder to purchase one common share of the Issuer at the price of $0.10 per share on or before the earlier of (i) one year following the Closing Date and (ii) the date following the expiry of 4 months from the Closing Date and occurring 15 business days from the date the holder receives notice from the Issuer that the trading price of the common shares of the Issuer has closed each day for a period of 5 consecutive trading days at $0.25 per share or higher.
Up to a 10% commission or finder's fee will be paid in cash to registered dealers or arm's length third parties involved in the financing. The financing is expected to close by mid-August 2013. Maximum gross proceeds of the offering are expected to be $500,000 CDN. The funds raised will be allocated for general working capital.
MPVC wishes to report the resignation from the office of Chief Financial Officer ("CFO") of Mr. Graham Kemp. Mr. Kemp will remain a member of the Company's board of directors. The Company wishes to express its appreciation to Mr. Kemp for his work on behalf of the Company in his role as CFO. The Company also wishes to announce that Mr. Paul Haber C.A. has been appointed the new CFO. Mr. Haber is a member of the board of directors and brings with him many years of public company financial management experience to his new role as CFO.
The foregoing transactions are subject to regulatory approval.
On behalf of the Board of Directors, MPVC Inc.
"Grant Hall"
President and CEO of MPVC Inc.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
This news release is not for dissemination in the United States or for release to U.S. newswire services. This news release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to persons in the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Contacts:
MPVC Inc.
Grant Hall
President and CEO
520 668 4101
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Datum: 15.07.2013 - 10:13 Uhr
Sprache: Deutsch
News-ID 1245410
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Venture Capital
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