Manning Ventures Inc. Announces Proposed Share Consolidation
VANCOUVER, Oct. 3, 2023 - Manning Ventures Inc. ("Manning" or the "Company") (CSE:MANN) (Frankfurt:1H5) announces that it intends to consolidate the common shares in the capital of the Company (the "Common Shares") on a four (4) to one (1) basis. The Consolidation has been approved by the Company's board of directors in accordance with the Articles of the Company but remains subject to the approval of the Canadian Securities Exchange (the "CSE"). The Company will issue a news release announcing the effective date of the Consolidation upon receiving approval from the CSE. The Common Shares will subsequently begin trading on a consolidated basis under the existing Company name and trading symbol. As currently contemplated, each four (4) pre-Consolidation Common Shares will automatically combine into one post-Consolidation Common Share without any action on the part of the holders thereof. Following the completion of the proposed Consolidation, the Company is expected to have approximately 22,687,241 post-Consolidation Common Shares issued and outstanding, subject to rounding for fractional Common Shares. No fractional Common Shares will be issued as a result of the Consolidation. In the event a shareholder would otherwise be entitled to receive a fractional Common Share from the Consolidation, the number of post-Consolidation Common Shares to be received by such shareholder shall be rounded down to the next highest whole number of post-Consolidation Common Shares.
About Manning
Manning is a lithium-focused exploration and development company operating in Canada. Manning's project portfolio includes the Bounty Lithium Project, located in Quebec, and the Dipole Lithium Project, located in Newfoundland, in addition to over 65,000-hectares of highly prospective ground in the emerging Leaf River Lithium Camp, locating in Northern Quebec.
On behalf of the Board of Directors,
"Alex Klenman"
Chief Executive Officer
This press release contains "forward-looking information" that is based on the Company's current expectations, estimates, forecasts, and projections. This forward-looking information includes, among other things, statements with respect to the Company's plans. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward looking information.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release.