FreshXtend Announces Closing of Private Placement

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/07/08 -- FreshXtend Technologies Corp. (TSX VENTURE: FXT) ("FreshXtend" or "the Company") is pleased to announce that, further to its news release dated August 29, 2008, it has closed the private placement of 14,075,618 common shares at a price of Cdn$0.08 per share for an aggregate amount of $1,126,049.

In addition, the Company announces that Gibsbourne Pty Ltd, the major shareholder of the Company, has exercised its right to convert its convertible loan note into 8,108,295 common shares.

The successful completion of the private placement and the note conversion allows the Company to focus its efforts on the Amalgamation Agreement entered into on August 28, 2008 with 832124 BC Ltd. and FreshXtend International Pty Ltd, both companies being private companies associated with Gibsbourne Pty Ltd.

As set out in the August 29, 2008 News Release, those participating in the Private Placement were asked to enter into lock-up agreements to vote in favour of the Amalgamation and to agree to elect to receive the Share Consideration in the Amalgamation.

There can be no assurance that the Amalgamation will be completed as proposed or at all.

The Private Placement and Amalgamation are subject to final acceptance by the TSX Venture Exchange.

FreshXtend Technologies Corp.

Manual Listing S & P's Industrial & Int'l, 12g (3)b Exemption: #82-2190

The statements in this news release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act of 1934 and are subject to the safe harbour created by these sections. Actual results may differ materially from the Company's expectations.

The TSX Venture Exchange has neither approved nor disapproved the contents of this news release.

FreshXtend Technologies Corp.
Roy Robinson
(604) 322-0759
(604) 322-0487 (FAX)

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