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| | Thu Jan 19, 2006
Private Placement Financing Closes
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| | PMI Ventures Ltd. (the "Company") [TSX Venture: PMV], announces that Arlyn James Miller of Denver, Colorado, acquired 1,500,000 units of the Company at a price of $0.15 per unit (the "Units") pursuant to a private placement. Each Unit is comprised of one common share and one share purchase warrant exercisable for one year at a price of $0.20 per share. As a result of the acquisition, Mr. Miller now owns and controls 5,094,500 common shares representing 12.75% of the issued and outstanding shares of the Company.
Further to the Company's news release dated November 22, 2005, the Company has received TSX Venture Exchange approval to a private placement whereby the Company raised $574,407.90. The Company has issued 3,829,386 units at a price of $0.15 per unit (the "Units"). Each Unit is comprised of one common share and one share purchase warrant exercisable for one year at a price of $0.20 per share. The Units have a four month hold period expiring May 19, 2006. A total of $12,495.00 was paid as a finder's fee.
In addition, the Company announces a six month extension of the term of 3,378,571 warrants expiring January 28, 2006 to July 28, 2006. This extension is subject to the approval of the TSX Venture Exchange.
On behalf of the Board,
"Douglas R. MacQuarrie"
Douglas R. MacQuarrie
President
For further information please contact:
Douglas R. MacQuarrie, President
Telephone: 1 (604) 682-8089 Toll-Free: (888) 682-8089 Facsimile: 1 (604) 682-8094
Or visit the PMI Ventures Ltd. website at www.pmiventures.com or in German: http://pmi.goldseiten.de
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release contains forward-looking statements which involve known and unknown risks, delays and uncertainties not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectations implied by these forward-looking statements. |
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