Mantis Mineral Corp. in Discussions for Potential Business Combination

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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.

Forward-Looking Statements

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 forward-looking statements. 

SOURCE Mantis Mineral Corp.