Manning Ventures Inc. Announces Effective Date of Share Consolidation
VANCOUVER, October 5, 2023 - Manning Ventures Inc. ("Manning" or the "Company") (CSE:MANN) (Frankfurt:1H5) announces that further to the Company's news release dated October 3, 2023, the Company will implement the previously announced consolidation of its common shares in the capital of the Company (the "Shares") on the basis of four (4) pre-consolidation Shares for every one (1) post-consolidation Share (the "Consolidation") effective as of October 12, 2023. The Company name and trading symbol will remain unchanged after the Consolidation. The new CUSIP number will be 56389K207 and the new ISIN number will be CA56389K2074 for the post-Consolidation Shares.
The Company's post-Consolidation Shares are expected to begin trading on the Canadian Securities Exchange (the "CSE") on or about October 12, 2023. The total issued and outstanding number of Shares post-Consolidation will be approximately 22,687,241, subject to rounding for fractional Shares.
No fractional Shares will be issued in connection with the Consolidation. In the event a holder of Shares would otherwise be entitled to receive a fractional Share in connection with the Consolidation, the number of Shares to be received by such shareholder will be rounded down to the next whole number if that fractional Share is less than one-half (1/2) of a Share, and will be rounded up to the next whole number if that fractional Share is equal to or greater than one-half (1/2) of a Share.
Registered shareholders that hold physical Share certificates will receive a letter of transmittal requesting that they forward pre-Consolidation Share certificates to the Company's transfer agent, Computershare Investor Services Inc. for exchange for new Share certificates representing Shares on a post-Consolidation basis. Shareholders who hold their Shares through a broker or other intermediary and do not have Shares registered in their own name will not be required to complete a letter of transmittal.
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.
