June 11, 2021
Vancouver, British Columbia – TheNewswire – June 11, 2021 – Manning Ventures Inc. (the “Company” or “Manning”) (CSE:MANN) (CNSX:MANN.CN) (Frankfurt:1H5) is pleased to announce that, further to its news release on May 25, 2021, it has completed the acquisition (the “Acquisition”) of the Broken Lake, Heart Lake, and Hydro properties (collectively the “Properties” or “Projects”) pursuant to the terms of a property purchase agreement (the “Purchase Agreement”) dated May 25, 2021, among the Company and the legal and beneficial holders of the Properties (the “Vendors”). The Properties are located in the Province of Quebec and consist of 180 mineral claims totalling 9,501 hectares.
In consideration for the Acquisition and pursuant to the terms of the Purchase Agreement, the Company:
- – issued an aggregate of 4,000,000 common shares in the capital of the Company (“Common Shares”) to the Vendors;
- – granted an aggregate of 4,000,000 common share purchase warrants to the Vendors, each of which will be exercisable into one Common Share (a “Warrant Share”) at an exercise price of $0.35 per Warrant Share for a period of two (2) years from the grant date; and
- – paid nominal cash consideration of $1.00.
In connection with the Acquisition, the Company issued 400,000 Common Shares to an arm’s length finder as a finder’s fee.
All securities issued in connection with the Acquisition are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.
The securities of the Company referred to in this news release 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. Accordingly, the securities of the Company may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of any offer to buy any securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful.