Mandeville Ventures Inc.: Mandeville Ventures Provides Update on Proposed Qualifying Transaction with Sumer Resources Inc.

Toronto, Ontario--(Newsfile Corp. - March 1, 2024) - Mandeville Ventures Inc. (TSXV: MAND.P) (the "Corporation" or "Mandeville"), a capital pool company listed on the TSX Venture Exchange ("TSXV"), announced today that, further to Mandeville's news release dated December 13, 2023, it has again agreed with Sumer Resources Inc. ("Sumer") to extend the period for the completion of due diligence and the negotiation and execution of a definitive agreement in respect of the parties' proposed business combination (the "Proposed Transaction"), to March 29, 2024. The extension is intended to allow Sumer additional time to raise additional equity capital and progress matters required for public listing.

In accordance with the policies of the TSXV, the Mandeville shares are currently halted from trading and will remain halted until such time as the TSXV determines, which, depending on the policies of the TSXV, may not occur until completion of the Proposed Transaction.

For further information, please contact:

Dean Hanisch
Mandeville Ventures Inc., CEO
e: [e-mail]
p: [phone]

Completion of the Proposed Transaction is subject to a number of conditions, including but not limited to, TSXV acceptance and if applicable pursuant to Exchange Requirements (as that term is defined in the policies of the TSXV), majority of the minority shareholder approval. Where applicable, the Proposed Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Proposed Transaction will be completed as proposed or at all.

The TSXV has in no way passed upon the merits of the Proposed Transaction and has neither approved nor disapproved the contents of this press release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/200169

SOURCE: Mandeville Ventures Inc.