Monitor arranges $100K debt settlement, $49K placement

Mr. William Radvak reports MONITOR VENTURES INC. ANNOUNCES SETTLEMENT OF DEBT AND A PRIVATE PLACEMENT Monitor Ventures Inc. is settling certain outstanding shareholder loans of $100,000 by the issuance of 665,000 common shares each to an arm's-length party and a director of the company for a total of 1.33 million common shares of the company at 7.5 cents per share (the debt settlement). The issuance of the debt shares to the director of the company constitutes a related party transaction with the company within the meaning of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions (MI 61-101). As a result, the director currently holds 65,000 shares, representing approximately 15.61 per cent of the issued and outstanding share capital of the company and 13.50 per cent of the issued and outstanding share capital postprivate placement, described below. The company has relied on the exemptions from the formal valuation and minority approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as the fair market value of the debt shares is not more than 25 per cent of the company's market capitalization. The company also announces a private placement of 665,000 common shares at 7.5 cents each for proceeds $49,875. The proceeds from the private placement will be used to reduce its liabilities and for working capital purposes. The shares issued pursuant to the debt settlement and the private placement are subject to a hold period of four months from date of issue in accordance with the rules and policies of the TSX Venture Exchange and applicable Canadian securities laws. The debt settlement and the private placement are subject to the receipt of all applicable regulatory approvals.