BELLINGHAM, WA — (MARKET WIRE) — Mar 7, 2006 — Rubincon Ventures, Inc. (OTC BB:RBCV.OB - News) is pleased to announce it has entered into Subscription Agreementsfor sales of securities, with two investors, relating to the issuance and sale in a private placement. Pursuant to the Subscription Agreements, the Company agreed to issue 5,000,000 shares of common stock at a price of $1.00 per share. The Company received gross proceeds of $5,000,000 into trust, with the release of such proceeds subject to certain conditions. The conditions were met as of February 15, 2006 ("Closing"), and the Company will receive $5,000,000 in gross proceeds.
The proceeds from this sale of securities are intended to be used by the Company primarily for acquisitions of other businesses, assets, technologies and intellectual property, and for investments in research and development to complement the Company's business plans.
In related news, the Company has entered into an agreement whereby Bakerview Investor Relations, Inc. will undertake investor relations services on the Company's behalf for a fee of $10,000 per month.
Safe Harbor for Forward-Looking Statements:
Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Rubincon Ventures, Inc. has little or no control.
ON BEHALF OF THE BOARD
Rubincon Ventures, Inc.
Guy Peckham, Director