Mapath arranges $1-million private placement

Mr. Marcus New reports MAPATH CAPITAL ANNOUNCES NON-BROKERED PRIVATE PLACEMENT Mapath Capital Corp. has arranged a non-brokered private placement of up to 20 million common shares in the capital of the company at a price of five cents per offered share for gross proceeds of up to $1-million. Proceeds of the offering will be used for working capital purposes and the repayment of debt. There are no finders' fees in connection with the offering. The company has also negotiated a shares-for-debt transaction with two creditors whereby the company shall issue 568,000 common shares of the company at a price of five cents per share to settle $28,400 of non-cash payables pertaining to two convertible debentures with a principal amount of $20,000 and $12,000, respectively, and accrued interest of $4,000 and $2,400, respectively. All securities to be issued pursuant to the offering and shares for debt will be subject to a regulatory hold period of four months and a day in accordance with the rules and policies of the TSX Venture Exchange, applicable Canadian securities laws, and such other further restrictions as may apply. Upon TSX-V acceptance, the company will close the offering. Two insiders of the company expect to purchase an aggregate of 800,000 offered shares in the offering and will receive the 568,000 common shares pursuant to the shares for debt. The company has relied on the exemptions from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions) contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101 in respect of such insider participation. We seek Safe Harbor.