|By Marketwired .||
|June 23, 2014 05:15 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/23/14 -- MPH Ventures Corp. (TSX VENTURE: MPS)(OTC GREY: MPSFF)(FRANKFURT: IJA1) announces that the Company will not be proceeding with the non-brokered private placement of 12,000,000 units at a price of $0.05 per unit with non-transferrable share purchase warrants exercisable at $0.10 announced on May 8, 2014.
The Company announces it has arranged a non-brokered private placement of up to 10,000,000 units (the "Unit") at a price of $0.05 per unit to raise proceeds of up to $500,000. Each Unit consists of one common share and one non-transferable share purchase warrant (the "Warrant"). Each Warrant will entitle the holder to purchase one common share for a period of two years at a price of $0.07 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 $0.07 per share for a period of two years from the closing date of the private placement.
The private placement is subject to TSX Venture Exchange acceptance.
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.