MPH Ventures Corp. : MPH Ventures to Consolidate Shares 1 for 10, Private Placement Announced
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 GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: MPH Ventures Corp. via GlobeNewswire
[HUG#1784017]