| ||March 08, 2006|
| ||March 8, 2006, (Vancouver, British Columbia) MBA Resources Corp. (TSX-V: MBA) announced today that it is proceeding, subject to regulatory approval, with a $1,850,000 non-brokered, private placement of convertible debentures, the proceeds of which will be used to finance the acquisition and initial reworking of the of the Gordon Creek, Utah producing natural gas field. The debentures will be for a term of two years and holders of the debentures will be entitled to convert the principal amount into common shares of the company at a rate of $0.185 per share. Holders will also receive an equivalent number of 2 year warrants exercisable to purchase an additional common share at a price of $0.185 per share.|
THIS NEWS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.
For more information, contact Mr. Cam White at 604-707-0373.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or the adequacy of this press release.
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