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Re: None

Wednesday, 11/08/2006 12:44:33 PM

Wednesday, November 08, 2006 12:44:33 PM

Post# of 92
MNR Mediterranean 26,522,600-share private placement

2006-02-24 20:46 ET - Private Placement

The TSX Venture Exchange has also accepted for filing documentation with respect to a brokered private placement announced Feb. 3, 2006.

Shares: 26,522,600

Price: 25 cents

Warrants: 13,261,300 share purchase warrants to purchase 13,261,300 shares

Exercise price: 35 cents for a two-year period

Placees: 81

Insiders: RAB Special Situations (Master) Fund Ltd. 6,885,000; Peter Guest 120,000

Pro groups: Dr. Frank Lucas 800,000; Kevin Reid 80,000; Northern Securities Inc. 40,000; Paul Reid 20,000; Ronald Wortel 20,000; Richard Pinkerton 30,000; Vic Alboini 100,000; Tim Dalton 20,000

Agent: Northern Securities Inc. and Loeb Aron & Company

Agents' fees:

Northern Securities Inc.: $226,361 cash and 1,064,592 agent's options to acquire 1,064,592 units at a price of 25 cents per unit for a period of two years

Loeb Aron & Company: $289,437 and 1,543,668 agent's options to acquire 1,543,668 units at a price of 25 cents per unit for a period of two years

T

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