/NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES/
TORONTO, Oct. 15, 2013 /CNW/ - Mantis Mineral Corp. ("Mantis") (CNSX:MYN) is pleased to announce that it is in advanced discussions
with a private company to give effect to a business combination of the
two companies (the "Transaction"). The potential Transaction would combine the existing mineral
exploration activities of Mantis with potential oil and gas acquisition
opportunities in Africa. The structure of the Transaction will be
subject to receipt of appropriate legal, accounting, tax and financial
advice, and the execution of a definitive agreement containing
customary terms and conditions for a transaction of this nature.
Completion of the Transaction is subject to a number of conditions,
including the approval of the Canadian National Stock Exchange, the
execution of definitive documentation, the completion of satisfactory
due diligence, and the receipt of all applicable shareholder approvals.
There can be no assurance that the Transaction will be completed as
proposed or at all. Investors are cautioned that, except as disclosed
in any management information circular to be prepared in connection
with the potential Transaction, any information released or received
with respect to the proposed Transaction may not be accurate or
complete and should not be relied upon. Trading in the securities of
Mantis should be considered highly speculative.
Certain information set forth in this news release may contain
forward-looking statements that involve substantial known and unknown
risks and uncertainties. These forward-looking statements are subject
to numerous risks and uncertainties, certain of which are beyond the
control of Mantis, including, but not limited to, the uncertainty of
the Transaction proceeding, the impact of general economic conditions,
industry conditions, dependence upon regulatory and shareholder
approvals, the execution of definitive documentation and the
uncertainty of obtaining additional financing. Readers are cautioned
that the assumptions used in the preparation of such information,
although considered reasonable at the time of preparation, may prove to
be imprecise and, as such, undue reliance should not be placed on
SOURCE: Mantis Mineral Corp.
For further information:
Mantis Mineral Corp.
Mr. Robin Ross
Chairman and Chief Executive Officer