Business
Manning Ventures Closes C$1 Million Private Placement
Vancouver, British Columbia – TheNewswire - October 26, 2021 – Manning Ventures Inc. (the “Company” or “Manning”) (CSE:MANN); (CNSX:MANN.CN); (Frankfurt:1H5) is
About this update from Manning Ventures Inc
[{"type":"text","content":"Vancouver, British Columbia – TheNewswire - October 26, 2021 – Manning Ventures Inc. (the “Company” or “Manning”) (CSE:MANN); (CNSX:MANN.CN); (Frankfurt:1H5) is pleased to announce that the Company has closed a private placement of flow-through units (the “FT Units”) of the Company at a price of $0.16 per FT Unit (the “Private Placement”). Pursuant to the Private Placement, the Company issued 6,279,500 FT Units for aggregate gross proceeds of $1,004,720. Each FT Unit consists of one common share in the capital of the Company which will be designated as a flow-through share (a “FT Share”) pursuant to the Income Tax Act (Canada) and one-half of one common share purchase warrant (each whole share purchase warrant, a “Warrant”). Each whole Warrant will entitle the holder thereof to purchase one non-flow-through common share of the Company (a “Warrant Share”) at a price of $0.24 per Warrant Share for a period of 36 months from the date of issuance. In connection with the Private Placement, the Company has paid finder’s fees totaling $66,117.60 and issued an aggregate of 413,235 non-transferable finders’ warrants (the “Finders’ Warrants”). Each Finders’ Warrant will entitle the holder thereof to purchase one common share in the capital of the Company (a “Finders’ Warrant Share”) at a price of $0.24 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, namely its iron ore portfolio in Quebec, and its gold projects, located in Ontario. 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 February 23, 2022. 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. About Manning Manning is a broad-bas...