MPH Ventures Corp. : MPH Ventures to Consolidate Shares 1 for 10, Private Placement Announced
08 Mayo 2014 - 12:27PM
Suite 1610 - 777 West Dunsmuir
Street, Vancouver, BC, Canada, V7Y 1K4
www.mphventurescorp.com
TSX Venture Exchange Symbol: MPS Email: info@mphventurescorp.com
May 08, 2014
Vancouver,
BC - MPH Ventures Corp.(TSX-V:
MPS) (OTC Grey: MPSFF) (Frankfurt: IJA1) announces that it
intends to effect a consolidation of its common shares on the basis
of one new common share for every ten common shares outstanding.
The name of the Company will not change and the trading symbol will
remain the same.
Management and the Board of
Directors believe that the share consolidation is in the best
interests of the Company and its shareholders. Management believes
that the share consolidation will allow MPH Ventures important
flexibility in order for the Company to complete future
financings.
The Company currently has
80,825,010 common shares outstanding and, following the share
consolidation on a ten to one basis, will have 8,082,501 common
shares outstanding. No fractional common shares will be issued and
no cash will be paid in lieu of fractional post-consolidation
common shares but the number of common shares to be received by a
shareholder will be rounded down to the nearest whole common
share.
MPH Ventures also announces it has
arranged a non-brokered private placement of up to 12,000,000 post
consolidated units (the "Unit") at a price of $0.05 per unit to
raise proceeds of up to $600,000. Each Unit consists of one post
consolidated common share and one non-transferable post
consolidated share purchase warrant (the "Warrant"). Each Warrant
will entitle the holder to purchase one post consolidated common
share for a period of two years at a price of $0.10 per share. The
Company intends to utilize the proceeds from this private placement
for further property investigation and for general working capital
purposes.
A finder's fee of up to 7% cash
and 7% non-transferable warrants (the "Finder's Warrants") may be
paid in connection with part of this private placement. Each
Finder's Warrant will entitle the finder to purchase a common share
at a price of $0.10 per share for a period of two years from the
closing date of the private placement.
The share consolidation and the
private placement are subject to approval by the TSX Venture
Exchange.
About MPH
Ventures Corp.:
MPH Ventures Corp. is a
molybdenum, graphite and gold exploration company focused on
mineral development within Canada.
For further information on MPH
Ventures Corp. (TSX-V: MPS) visit the Company's web site at
www.mphventurescorp.com.
ON BEHALF OF THE BOARD OF
DIRECTORS
"Jim Pettit"
______________________________
James G. Pettit
President
For further information contact
myself or:
Don Myers
MPH Ventures Corp.
Director
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@mphventurescorp.com
NEITHER THE TSX VENTURE EXCHANGE
NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
This release includes certain statements that may
be deemed to be "forward-looking statements". All statements in
this release, other than statements of historical facts, that
address events or developments that management of the Company
expects, are forward-looking statements. Although management
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 or
developments may differ materially from those in the
forward-looking statements. The Company undertakes no obligation to
update these forward-looking statements if management's beliefs,
estimates or opinions, or other factors, should change. Factors
that could cause actual results to differ materially from those in
forward-looking statements, include market prices, exploration and
development successes, continued availability of capital and
financing, and general economic, market or business conditions.
Please see the public filings of the Company at www.sedar.com for
further information.
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: MPH Ventures Corp. via Globenewswire
HUG#1784017
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