Manning Ventures Inc. Amends Terms of Squid Option Agreement
MANNING VENTURES INC. AMENDS TERMS OF SQUID OPTION AGREEMENT
Vancouver, British Columbia, November 4, 201 9. Manning Ventures Inc. (the "Company" or
"Manning") is pleased to announce that it has entered into an amending agreement dated
November 1 st, 2019 (the " Amending Agreement") to amend the terms of the option agreement
dated September 26, 2018 (the "Original Option Agreement") between the Company and Metals
Creek Resources Corp. ("MEK"), pursuant to which the Company has the option to acquire a 75%
interest in MEK's Squid East Property located in the northwest extension of the White Gold
District, Yukon (the "Property").
In order to exercise the option, Manning must spend a t otal of $1,150,000 on ex ploration of the
Property, issue a total of 1,200,0 00 common shares of the Co mpany to MEK, and make a total of
$65,000 in cash payments to MEK. Manning must also make annual advance minimum royalty
("AAMR") payments of $100,000 eac h to MEK. The Amending Agreement amends the timing of
these option exercise requirements and the AAMR payments, as follows:
Original Option Agreement Amending Agreement
Exploration
Expenditures
1. $50,000 by December 31, 2019
2. $100,000 between Ja nuary 1, 2020
and December 2020
3. $300,000 between January 1, 2021
and December 31, 2021
4. $700,000 between Januar y 1, 2022
and December 31, 2022
1. $50,000 by December 31, 2020
2. $100,000 between January 1, 2021
and December 2021
3. $300,000 between January 1, 2022
and December 31, 2022
4. $700,000 between January 1, 2023
and December 31, 2023
Share
Issuances
1. 600,000 common shares on or
before the Company's listing date
2. 300,000 common shares on or
before December 31, 2019
3. 300,000 common shares on or
before December 31, 2020
1. 600,000 common shares on or
before the Company's listing date
2. 600,000 comm on shares on or
before December 31, 2020
Cash
Payments
1. $35,000 on or before the
Company's listing date
2. $15,000 on or before December 31,
2019
3. $15,000 on or before December 31,
2020
1. $35,000 on or before the
Company's listing date
2. $30,000 on or before Dec ember 31,
2020
AAMR
Payments
$100,000 beginning on May 31, 2020
and annually thereafter
$100,000 beginning on May 31, 2021
and annually thereafter
The terms of the Original Opti on Agreement are disclosed in the Company's prospectus dated
August 30, 2019.
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About Manning Ventures Inc.
Manning is a British Columbia based company involved in t he acquisition and exploration of
copper-gold porphyry mineral properties . Manning is a reporting issuer in British Columbia,
Alberta and Ontario, and has its commo n shares listed for trading on the Canadian Securities
Exchange under the symbol "MANN". Manning has an option agreement with Metals Creek
Resources Corp. o n the Squid East Property in the Yukon, pursuant to which Manning has the
option to acquire a 75% i nterest in the Squid East Property on the terms and conditions set out
therein.
Contact Information
Manning Ventures Inc.
Zula Kropivnitski, Chief Financial Officer
Email: [email protected]
Telephone: (604) 681-0084
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy
or accuracy of this release.