| ||June 06, 2003|
Proposed Name Change And 2 For 1 Share Split
| ||Manele Bay Ventures Inc. (the "Company") announces that at its Annual General Meeting to be held July 8, 2003 it intends to seek shareholder approval of a change of the Company's name to "MBA Gold Corp." and a split of the Company's issued and outstanding share capital on a 2 for 1 basis. |
Management of the Company feels that the new name "MBA Gold Corp." will be more representative of the Company's focus on gold exploration and development. The proposal to split the Company's issued and outstanding share capital was determined in conjunction with the Company's investment banker, Bolder Investment Partners, Ltd. and is one component of our strategy to increasing trading liquidity and shareholder value.
Manele Bay is a precious metals mining company whose strategy is to acquire a portfolio of resource properties that have indicated mineral resources and require further exploration or development work. Manele Bay will add value to these projects by providing capital, exploration expertise and where justified, development and production planning. The World Beater Gold property, located in Inyo County California, is the first property acquired by the Company in accordance with this strategy.
For more information contact Cameron White, Chairman, at 1-604-707-0373 or firstname.lastname@example.org.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or the adequacy of this press release.
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