Vancouver, British Columbia – TheNewswire – January 19, 2021 – Manning Ventures Inc. (the “Company” or “Manning”) (CSE:MANN) (CNSX:MANN.CN) is pleased to announce that it has arranged a non-brokered private placement to raise up to $1.5-million. The offering will consist of up to 10 million units consisting of one common share of the company and a common share purchase warrant entitling the holder to purchase a further share of the company. The units are being sold at a price of 15 cents per unit. The warrants will be exercisable for a period of 24 months from closing, at a price of 25 cents per share. Finders’ fees may be applicable on the offering.
The Company also announces that it has approved a 10% rolling stock option plan whereby the Company may issue up to 10% of its issued capital as stock options to eligible directors, officers, employees and consultants. In addition, the Company has also implemented a 10% rolling restricted share unit plan whereby the Company may issue up to 10% of its issued capital as restricted share units to eligible directors, officers, employees and consultants. The stock option plan and restricted share unit plan were adopted by the Company to provide incentives to is executives and service providers and to better align interests with shareholder while preserving the Company’s cash for its exploration activity.
Manning is a British Columbia based company involved in the acquisition and exploration of copper-gold porphyry mineral properties, with a focus in Canada. Manning is a reporting issuer in British Columbia, Alberta and Ontario, and has its common shares listed for trading on the Canadian Securities Exchange under the symbol “MANN”. Manning has an option agreement with Metals Creek Resources Corp. (“Metals Creek”) on the Squid East Property in the Yukon, pursuant to which Manning has the option to acquire a 75% interest in the Squid East Property on the terms and conditions set out therein. Manning has an option agreement with Metals Creek on the Flint Lake Property in Ontario, pursuant to which Manning has the option to acquire a 100% interest in the Flint Lake Property on the terms and conditions set out therein.
For further information contact:
Manning Ventures Inc.
Zula Kropivnitski, Chief Financial Officer
Telephone: (604) 681-0084
The Canadian Stock Exchange, nor its regulation service provider, accept responsibility for the adequacy or accuracy of this news release.
FORWARD LOOKING STATEMENTS:
This news release does not constitute an offer to sell or a solicitation of an offer to sell 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.
Completion of the Transaction is subject to a number of conditions, including receipt of appropriate regulatory approvals. The Transaction cannot close until all such conditions are satisfied. There can be no assurance that the Transaction will be completed as proposed or at all.
All information contained in this news release with respect to the Company and Wabush was supplied by the parties, respectively, for inclusion herein, and the Company and its respective directors and officers have relied on Wabush for any information concerning such party.
This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
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