USA & Canada. holdings closes $2.1 million private placement from RE/MAX

Tuesday, 27 June 2006 Holdings Inc. (OTCBB: MBKR), a mortgage brokerage brand and consolidation firm, announced today that it has completed a previously announced private placement of 2,112,470 common shares at a price of $1.00 per share, receiving gross proceeds of $2,112,470 from RE/MAX Ontario- Atlantic Canada Inc. ("RE/MAX") and their franchise network, the largest real estate brokerage network in Canada. The common shares are subject to a restriction period expiring on June 9, 2007 and are also subject to a further leak out agreement until June 9, 2010.

On June 1, 2006, officially launched and began deployment of its mortgage origination business model into participating RE/MAX franchises as part of their 10-year integrated licensing and marketing agreement with will use the proceeds to strengthen its balance sheet and for general working capital requirements.

Alex Haditaghi, CEO of Holdings, Inc., stated, "Adoption of the business model by RE/MAX franchises began this month, and we are very excited for what lies in store for our Company and our shareholders. This financing by RE/MAX, their executives and their franchisees demonstrates their long-term commitment to our company. With their investment, we will move forward with strengthening our technology infrastructure to support an anticipated upsurge in sales originating from the RE/MAX relationship."

Last Updated ( Tuesday, 27 June 2006 )