OKAY PUMPER!Job well done here.
Now we need the pumper back to MPS.
MPH Ventures Corp.: Non-Brokered Private Placement Announced
VANCOUVER, BRITISH COLUMBIA, Nov 4, 2010 (Marketwire via COMTEX News Network) --
MPH Ventures Corp. (TSX VENTURE:MPS) (FRANKFURT:IJA1) (the "Company") announces it has arranged a non-brokered private placement of up to 20,000,000 units at a price of
.05 per unit to raise gross proceeds of up to $1,000,000. Each unit consists of one common share and one non-transferable share purchase warrant, with each warrant to entitle the holder to purchase one common share for a period of three years at a price of
.10 per share.
The Company may pay up to a 7.5% finder's fee, payable in cash or units, in connection with part of this private placement offering.
MPH intends to utilize the proceeds of this private placement for its 3400 acre Pidgeon Molybdenum Deposit Project located approximately 50 kilometres east of Dryden, in Northwestern Ontario, and for general working capital purposes.
Pidgeon Molybdenum Deposit Project Claims Map: https://www.mphventurescorp.com/s/Image.asp?i=maps/MPS-ON-Pidgeon-area-map.gif
The Company is in the process of completing an update of its NI 43-101 resource estimate of its 100% owned Pidgeon Molybdenum Deposit Project. Since acquiring the project from BHP Billiton and Goldcorp in 2007, MPH Ventures has drilled over 40 holes on the project and has hit significant molybdenum intersections within open pit parameters.
About MPH
MPH Ventures is focused on the development of its wholly owned gold and molybdenum projects located throughout Ontario. Management of MPH has extensive expertise in identifying and adding value to exploration projects throughout Ontario, Canada.
For further information on MPH Ventures Corp. (TSX VENTURE:MPS) visit the Company's web site at www.mphventurescorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS
JAMES G. PETTIT, President
This news release may contain certain "Forward-Looking Statements" that may involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. For a more detailed discussion of such risks and other factors, refer to the Company's filings with Canadian Securities regulators available on www.sedar.com.
SOURCE: MPH Ventures Corp.
MPH Ventures Corp.
James G. Pettit
President
604-687-3376 or Toll Free: 800-567-8181
604-687-3119(FAX)
MPH Ventures Corp.
Don Myers
Director
604-687-3376 or Toll Free: 800-567-8181
604-687-3119(FAX)
info@mphventurescorp.com
www.mphventurescorp.com
Copyright (C) 2010 Marketwire. All rights reserved.