Marketvision Direct, Inc. (TSX VENTURE:MKT) (the "Company" or "Marketvision") is
pleased to announce that further to its press release of December 21, 2010, it
has completed a non-brokered private placement of 6,250,000 units ("Units") at a
price of $0.08 per Unit for gross proceeds of Cdn.$500,000 (the "Offering").
Each Unit consists of one common share and one-half of one common share purchase
warrant (a "Warrant"). Each whole Warrant entitles the holder to acquire one
common share of Marketvision for a period of 24 months, at an exercise price of
$0.12 per share. The Offering was fully subscribed by Mr. Dennis A. Sharp, P.
Eng. and Glenburn Farms Limited, a company controlled by Mr. D. Campbell Deacon.


The common shares and warrants carry a four-month hold period under Canadian
securities laws from the date of issuance.


Proceeds from the Offering will be used to review potential acquisition
opportunities of heavy oil properties in Albania, through the Company's wholly
owned Albanian subsidiary APIC Petroleum Corp., and for general corporate
purposes.


The Company also wishes to announce that Mr. Dennis Sharp has been appointed as
Chief Executive Officer (CEO) and Chairman of the Board of Directors of the
Company and Mr. Deacon has been appointed as a director of the Company. Mr.
Thomas Vukovich, the former CEO, will remain with the Company and will continue
to serve as a director. In order to accommodate the changes to the Board of
Directors, Mr. Peter Kent and Mr. Sean Morris have stepped down as directors of
the Company.


"On behalf of the Board of Directors, I wish to thank Peter Kent and Sean Morris
for their dedication and service to the Company and wish them well in their
future endeavors", commented Thomas Vukovich, Director. He continued: "I am
delighted to welcome Dennis Sharp and Campbell Deacon to the Company. Their
expertise and experience in the capital markets and in developing oil and gas
projects will be instrumental in furthering the development and growth of the
Company. Looking forward, we will continue to strengthen our management team and
add new skills as the Company works to acquire oil concessions in Albania."


This news release does not constitute an offer to sell or a solicitation of an
offer to buy any of the 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 U.S. Persons unless registered
under the U.S. Securities Act and applicable state securities laws or an
exemption from such registration is available. All dollars in this release are
in Canadian funds.


FORWARD-LOOKING STATEMENTS

This press release includes certain "forward-looking statements". All statements
regarding the ability of the Company to successfully acquire oil and gas
concessions in Albania are forward-looking statements that involve various 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. All statements that are not historical
facts, including without limitation statements regarding future estimates,
plans, objectives, assumptions or expectations of future performance, are
"forward-looking statements". We caution you that such "forward looking
statements" involve known and unknown risks and uncertainties that could cause
actual results and future events to differ materially from those anticipated in
such statements. Such risks and uncertainties include the inability of the
Company to close the Offering due to the state of the capital markets and other
risk factors as discussed in the Company's filings with Canadian securities
regulatory agencies. The Company expressly disclaims any obligation to update
any forward-looking statements except as may be required by law.


DeepMarkit (TSXV:MKT)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more DeepMarkit Charts.
DeepMarkit (TSXV:MKT)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more DeepMarkit Charts.