MPH Ventures to Consolidate Shares 1 for 10, Private Placement Announced
08 Mai 2014 - 7:42PM
Marketwired
MPH Ventures to Consolidate Shares 1 for 10, Private Placement
Announced
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 8, 2014) - MPH
Ventures Corp. (TSX-VENTURE: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-VENTURE:MPS)
visit the Company's web site at www.mphventurescorp.com .
ON BEHALF OF THE BOARD OF DIRECTORS
James G. Pettit, President
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.
MPH Ventures Corp.James G.
PettitPresident604-687-3376604-687-3119Toll Free:
800-567-8181info@mphventurescorp.comMPH Ventures Corp.Don
MyersDirector604-687-3376604-687-3119Toll Free:
800-567-8181info@mphventurescorp.com
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