Mandeville Ventures Inc. Completes Initial Public Offering

Ottawa, Ontario–(Newsfile Corp. – April 21, 2022) – Mandeville Ventures Inc. (TSXV: MAND.P) (“Mandeville” or the “Company”), a capital pool company, is pleased to announce that it has successfully completed its initial public offering of 6,549,000 common shares at a price of $0.10 per share raising gross proceeds of $654,900 (the “Offering”) pursuant to a prospectus dated January 31, 2022.

Gravitas Securities Inc. acted as the sole lead agent for the Offering. The agents for the Offering received cash commission of $65,490, equal to 10% of the gross proceeds of the Offering, and 654,900 non-transferable agent’s options, each of which entitles the holder to purchase one common share of the Company at a price of $0.10 per share for a period of 24 months from the date of listing of the Company’s common shares on the TSX Venture Exchange.

Concurrent with the closing of the Offering, the Company also granted options to acquire an aggregate of 654,900 common shares at an exercise price of $0.10 per common share to the directors and officers of the Company, which options expire ten years from the date of grant.

The common shares are expected to be posted for trading on the TSX Venture Exchange under the stock symbol “MAND.P” at the opening of trading today.

The net proceeds from Mandeville’s initial public offering, together with net proceeds raised prior to the Offering (approximately $977,000), will be used to identify and evaluate assets and businesses with a view to completing a “Qualifying Transaction” in accordance with TSX Venture Exchange policies.

Following completion of the initial public offering, Mandeville has 26,549,000 common shares issued and outstanding, of which 20,000,000 common shares are held in escrow pursuant to the policies of the TSX Venture Exchange.

Investors are cautioned that trading in the securities of a capital pool company should be considered highly speculative.

For more information contact:

Dean Hanisch
Chief Executive Officer
Mandeville Ventures Inc.
Tel: (613) 612-6060
E-mail: deanhanisch@hotmail.com

Forward-Looking Information Cautionary Statement

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or the Company’s future performance. The use of any of the words “could”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, the Company’s stated use of proceeds and its expectation as to the trading of the common shares on the Exchange constitute forward-looking information. Actual results and developments may differ materially from those contemplated by forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information. The statement made in this press release are made as of the date hereof. The Corporation disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/121165