Vancouver, BC – TheNewswire – December 23, 2022 – Manning Ventures Inc. (the “Company” or “Manning”) (CSE:MANN) (Frankfurt:1H5) is pleased to announce that it has closed a private placement of 10,400,000 common shares in the capital of the Company which will be designated as a flow-through shares (“FT Shares”) pursuant to the Income Tax Act (Canada) at a price of $0.075 per FT Share for aggregate gross proceeds of $780,000 (the “Private Placement”).
In connection with the Private Placement, the Company paid finder’s fees totaling $62,400 and issued an aggregate of 832,000 non-transferable finders’ warrants (the “Finders’ Warrants”). Each Finders’ Warrant entitles the holder thereof to purchase one common share in the capital of the Company (a “Finders’ Warrant Share”) at a price of $0.075 per Finders’ Warrant Share for a period of 36 months from the date of issuance.
The Company intends to allocate the net proceeds of the Private Placement for the advancement of its Canadian exploration projects.
All of the securities issued in the Private Placement are subject to a hold period of 4 months and a day pursuant to applicable securities laws which expires on April 23, 2023.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Manning is a broad-based mineral exploration and development company with a focus in Canada. Manning holds a 100% interest in the Bounty Lithium Project, located in Quebec, and the Dipole Lithium Project, in Newfoundland. The Company also retains interest in six Iron Ore properties located in the Province of Quebec, and a portfolio of polymetallic projects in Newfoundland.
For further information contact:
Manning Ventures Inc.
Alex Klenman – CEO
Telephone: (604) 681-0084
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release. The Canadian Securities Exchange has not in any way approved nor disapproved the contents of this news release.
FORWARD LOOKING STATEMENTS:
Certain information in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company disclaims any intention or obligation to update or revise such information, except as required by applicable law.
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